Ontario ratepayers to bear the cost of Hydro One’s foreign takeover: Avista CEO
The purchase of Avista by Hydro One is a bad deal for Ontario families, said Ontario PC Energy Critic Todd Smith, pointing to a quote from Avista CEO Scott Morris saying the sale means “we can spread out costs over a larger customer base.” Morris, speaking to US media, was referring to the addition of Ontario customers onto Avista’s existing US customer base.
“Hydro One customers are already getting gouged here at home – paying some of the highest and fastest rising electricity prices in North America,” said Smith. “Ratepayers already may be on the hook for another $141 per year rate hike. They can’t afford to shoulder the costs of ratepayers in Montana and Washington.”
Kathleen Wynne is already viewing the deal as an opportunity to take Ontario’s disastrous green energy record international, saying “…you won’t find another jurisdiction — pretty much around the world — that has gone as far in terms of renewable clean energy as Ontario so I see this as a real validation of our opportunity to take that influence elsewhere.”
“If by taking that influence elsewhere, Wynne means overpaying $9.2 billion for green energy contracts that were awarded to Liberal donors, Ontario ratepayers better grab a tight hold of their wallets,” added Smith.
“Every single decision this Liberal Government has made in the energy sector has resulted in Ontario families paying more and getting less. Life is harder under the Wynne Liberals, and it’s only going to get worse,” concluded Smith. “It’s time for a government that works for the people of Ontario not for Liberal insiders and fat-cat corporate executives.”