The Wynne Liberals are poised to ram through budget bill amendments today allowing a holding corporation, which would be immediately free from public scrutiny, to sell Hydro One in secrecy, says Nipissing MPP and PC Finance Critic Vic Fedeli.
Fedeli says the Liberals quietly put forward two amendments that will allow them to transfer all voting securities in Hydro One “to a corporation” established under section 50.1 of the Electricity Act, then exempt that corporation from oversight from the Auditor General, Ombudsman, Financial Accountability Officer, and Freedom of Information and Privacy Commissioner, among others.
“By doing this, Ontarians will immediately lose the ability to know any details of the Hydro One sale as soon as the budget bill is passed by the Legislature, not once the first shares are sold,” Fedeli said.
“Hydro rates are heading even higher in Ontario if this proceeds. The Premier needs to listen to the 70 per cent of Ontarians who oppose the Hydro One fire sale and remove it from her budget bill.”