Liquidating Hydro One is Bad Business for Ontario

(Queen’s Park): GPO leader Mike Schreiner is calling the Liberal government’s plan to liquidate Hydro One a bad business decision. Selling up to 60 percent of Hydro One will deprive the province of annual dividends—$287 million last year alone—forever. 
“The Liberal’s liquidation of Hydro One is a bad business decision by a desperate government,” says Schreiner. “Instead of having an honest conversation about funding transit, the Liberals have caved into NDP and PC opposition to transit funding by selling off a valuable public asset.”
 
Numerous studies, including two expert panels appointed by the Liberals, have clearly outlined various revenue tools to fund transportation infrastructure. Last year’s minority Liberal government ignored expert recommendations in the face of opposition, especially from the NDP. Now the government is desperately selling a valuable public asset to fund transit.
 
“All three parties at Queen’s Park have failed to honestly tell Ontarians how they would fund transportation infrastructure,” says Schreiner. “The Liberal’s magic money tree is a short-term shot of cash that will deprive future governments of reliable revenue from a valuable 109 year old public asset.”
 
The GPO believes open access to a public transmission grid will foster innovation that generates jobs and prosperity. Globally governments are investing in smart grid technologies to help people and businesses save money by saving energy. Smart grids are essential innovations that allow us to use renewable energy efficiently and affordably, while supporting the electrification of transportation systems. Greens fear that privatizing the grid will jeopardize such innovations in Ontario. 
 
“Losing control of our transmission grid will drive up electricity prices and decrease our ability to implement solutions to save energy,” says Schreiner. “Private companies will want to maximize sale and profits, not help people save money by saving energy. We can’t lose this because the Liberals have failed to manage our finances responsibly.”
 
The GPO is on a mission to bring honesty, integrity and good public policy to Queen’s Park.
 
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