QUEEN’S PARK – The fire sale of a majority of Hydro One must be stopped because it is not it the best interest of Ontarians, PC Leader Patrick Brown said today at a news conference. “Once the government sells a majority of the company, it will no longer have control. This is a dangerous move that will not benefit the people of Ontario.”
Brown outlined three main concerns with the sale of Hydro One: the secrecy of the entire process, majority ownership not staying public, and the lack of independent, public oversight. “The decision to sell Hydro One was made without public input and now, with the government’s recent budget amendment, we find out that the sale will be done in complete secrecy. This process is being rushed to suit the Liberal Government’s own political purposes,” he stated.
Additionally, the fact that all independent public oversight of Hydro One will be lost upon passage of the budget is an enormous issue. “As long as more than 50% [of the company] is publicly owned, the public has a right to have its officers look out for its interests,” Brown declared. “With no public oversight and a monopoly service, Ontarians are vulnerable to higher hydro rates.”
“At its inception, the province’s hydro system was said to be `for the people’. With the sale of a majority of the company through the misguided actions of the Liberal Government, it means that Hydro One will no longer be ‘for the people’,” said Brown.
Brown announced that the PC Party has launched a website,
www.StoptheHydroFireSale.ca, to allow Ontarians to show their opposition to the sale of Hydro One.
