Hydro One is putting too much money in the pockets of its executives. That’s according to Parry Sound-Muskoka MPP Norm Miller, who is responding to the recent news that Hydro One might be increasing delivery rates by nearly $150 in 2018.
Miller says the province needs to get a handle on how the money is being used by the energy provider.
However, Ontario’s Energy Minster Glenn Thibeault says tearing up energy contracts would lead to expensive penalties and legal fees, and it’s better to lower the cost of the overall system. He says that means renegotiating the 2013 Green Energy Investment Agreement, which reduced the contract cost by $3.7 billion, and introducing competition between developers of large energy projects.
Hydro One officials note the increase in delivery rates would be used to upgrade aging infrastructure across Ontario. But, Miller says that’s the excuse the province used when hydro rates jumped in the past.
Miller says the province needs to stop putting the responsibility on the people that can barely afford hydro in the first place.
The Ontario Energy Board will be reviewing the application from Hydro One before deciding if the rates will increase. Thibeault says the OEB will work to keep rates as low as possible while making sure the system can run properly and be financially viable.