Restoring Fairness to Hydro Executive Pay
Patrick Brown, Ontario PC Leader, would use every governing tool to reduce executive salaries
TORONTO, ON – Patrick Brown, Ontario PC Leader, today announced that an Ontario PC Government will immediately act to cut the salaries and compensation of the OPG and Hydro One executives who have presided over skyrocketing hydro bills facing Ontario families.
“It’s time to stop rewarding the people who are presiding over the Wynne Liberal hydro rip-off,” Brown said. “These are the same people who have presided over a system that has tripled our hydro bills since 2003. What are they being rewarded for?”
Compensation for Ontario hydro executives remains excessive compared to most Canadian jurisdictions. While the CEO of Quebec Hydro makes just over $400,000 a year, the CEO of Hydro One is eligible to make over $4 million annually. In fact, the highest paid executive in BC, Manitoba, Newfoundland and Labrador, New Brunswick, PEI, Quebec and Saskatchewan would not even break into the top five salaries in Ontario.
“Kathleen Wynne and the Liberals continue to reward their friends and waste money,” said Brown. “Liberal donors, backroom players and insiders rigged the system. You work hard, her friends get more and you get less.”
An Ontario PC Government will take immediate action to reduce executive salaries at OPG and Hydro One.
Brown made it clear that, as Premier, there will be a variety of legislative, regulatory, policy, and persuasive tools at his disposal to ensure that this cut is implemented.
“An Ontario PC Government will make it easier for you and your family to make ends meet and get ahead. It’s time to restore fairness to hydro executive pay. No more backroom deals for connected donors. No more expensive hydro schemes,” Brown concluded. “It’s time for real change for the better.”