Based on their record on the electricity file, Premier Wynne’s sale of 60% of Hydro One will be another disaster

Anyone wondering how Premier Kathleen Wynne’s government is going to handle the sale of 60% of Hydro One to the private sector doesn’t have to look far.

Since the best indicator of future performance is past practice, just think of the Liberal government’s record to date on the electricity file.

Think of your skyrocketing hydro bills, currently increasing by 42% from 2014 to 2018.

  • mauser 98

    the Premier Strapon rolling disaster expands

  • Waffle

    As I predicted, the “sale” is a done deal and it’s secret. I wonder what kind of details are revealed in the Offering Memorandum. If anyone has an account with one of the brokers in on the deal, they should ask for a copy. I know the brokers are irreconcilable whores, but please don’t tell me that the C.A.s have also been corrupted.

    I know that curiosity ultimately killed the cat, but I would dearly love to know the relationship between Hydro’s CEO and the former vice-chairman of the TSX Board of Directors.

  • dance…dancetotheradio

    I think I read somewhere that the lions share of this deal was preferred shares for the employees paid for through payroll deductions over a few years.
    If so, they can say they privatized it and the rules of accounting will prove it even though there are many years of receivables, meaning they don’t actually have the money, yet.
    Just setting up the employees as milking cows.

  • dance…dancetotheradio

    Also, if they retain forty percent, sell thirty to employees and thirty to private interests they still have a controlling vote because the union will have a vote, too.
    Not quite by proxy but with some influence since they’d only need a third of the members to get to fifty plus one.

  • JoKeR

    What do they mean, another disaster?

    I am certain it will be hugely successful at being very profitable for top Liberals and was their green energy policy. Just as their former party president!