Scott Thompson: Hydro One loses rate hike bid, why now?
How many time have you heard of the Ontario Energy Board rejecting a bid to raise your electricity rates?
That’s because they rarely do.
The vast majority of the time, during this Liberal government tenure, the increases are rubber stamped by the OEB for your bill.
Not this time.
The OEB has rejected a request from Hydro One to increase its administrative costs and spend more money on capital projects.
That equals more salary and hydro polls. Apparently, ratepayers shouldn’t have to pay for that.
They also told Hydro One to reduce administrative costs by 30 per cent over two years and put savings from privatization into hands of ratepayers as well as shareholders.
Is the OEB playing differently now that Hydro One is public, or is there an election coming?
Either way, any future savings are awash in the interest we’ll pay to service the Green Energy Act debt over the next 30 years.
And what was the reason for this costly self-inflicted Liberal ‘mistake’ again?
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