QUEEN’S PARK – Today Ontario PC Energy Critic Todd Smith urged the Ontario Energy Board (OEB) to reject Hydro One’s application for yet another unaffordable rate increase for Ontario families. In a letter to the OEB, Smith highlighted the fact that Ontario families are paying more while Hydro One is spending billions on foreign companies.
Hydro One recently announced the purchase of Washington based Avista Corp. for nearly $7 billion.
“Just last month, Hydro One cried poor and justified their rate hike as a necessary cost to fix a backlog of repairs,” said Smith. “Now almost magically, the company has found close to $7 billion to throw at foreign companies. Why should Ontario ratepayers be on the hook for yet another rate hike when Hydro One clearly has billions of dollars on hand?”
In June, Hydro One applied for another rate increase that would see Ontario ratepayers paying $141 more per year. The Ontario PC Party believes life’s already too unaffordable under the Liberals and has continued to urge the Liberal government and the Ontario Energy Board to stop the rate hike.
“Ontario families are already working harder, paying more, and getting less,” said Smith. “They can’t afford yet another rate hike, while consultants, lobbyists, and fat-cat executives get rich off the purchase of foreign companies. The Ontario Energy Board should do the right thing and stop the rate hike.”