Ontario residents foot bill for $50 USD Million Hydro One payout of US coal executives
This morning, the Ontario PCs revealed that buried deep in a US securities filing is evidence that Hydro One signed a secret “golden parachute” deal to pay American coal executives $50 million.
News of these “golden parachutes” come at the same time as Hydro One is mailing out disconnection notices to families and seniors across the province, and Kathleen Wynne has stood back and allowed it to happen.
After Kathleen Wynne sold off Hydro One in a fire sale, Hydro One spent billions of dollars purchasing Avista. The purchase of this foreign company came at the same time that Hydro One was applying for a $141 per year rate hike that would have hit Ontario families.
The purchase of Avista was praised as being a good deal for the people of Northwestern United States, with Avista CEO saying “we can spread out our costs over a larger customer base.” A spokeswoman for the Washington Utilities and Transportation Commission even said Avista customers could see a credit on their bill.
Not only that, but after the purchase of Avista, Ontario is officially back in the business of burning dirty coal. Avista runs the largest coal mine west of the Mississippi River, and Kathleen Wynne was right there defending the purchase.
How will Kathleen Wynne defend these $50 million “golden parachutes” to the families across Ontario who are having their power cut off and who are being forced to choose between heating and eating?