QUEEN’S PARK – NDP Finance critic John Vanthof demanded to know why Doug Ford is supporting the privatization of Hydro One after a report from the legislature’s independent Financial Accountability Officer showed adopting Kathleen Wynne’s hydro plan, as Ford has decided to do, will add billions more to hydro bills and the deficit.
“Privatization of Hydro One is a waste. It was a bad Liberal Plan that’s now a bad Ford plan,” said Vanthof. “It’s a deal that helps backroom insiders and big banks and hurts people. It’s not a plan for the people. It’s a plan for the rich.
“How can the premier justify Hydro One privatization that adds billions to the deficit?”
The Financial Accountability Officer (FAO) tabled his annual report on Tuesday where he specifically highlighted two of his office’s most important reports: the real cost of selling off Hydro One, and the real cost of the Liberal hydro plan, which Ford has now adopted as his own hydro plan. The FAO’s non-partisan, expert report shows that privatizing Hydro One will cost Ontario $45 billion, increasing the province’s deficit and adding billions to hydro bills.
“Last week the energy minister said he wasn’t that familiar with the Liberal plan. The only thing is that the Liberal plan is now the Conservative plan,” said Vanthof. “The FAO’s non-partisan expert report shows that bills will increase permanently and people will soon see annual increases nearly 7 percent annually.
“Why is Ford adopting a plan that will increase people’s hydro bills by billions?”
Minister Greg Rickford tells NetNewsLedger, “There is a US acquisition pending from the Liberal days, out on the west coast. They were suggesting that the Hydro One changes would put that at risk. The NDP was not because it involves coal, costing a further amount of money”.