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Hydro One CEO receives $4 Million Salary while 60,000 families have their power turned off.

Kathleen Wynne and the Liberal Government in Ontario have increased Hydro Rates (Electricity costs) by over 200 % since 2008.

In many rural parts of Ontario the costs are even higher since Ontario Hydro companies can charge higher costs for “Delivery” of the electricity along wires to each home.

In many cases Hydro Bills have gone from $100 a month to over $500 per month. That’s $6,000 / year for electricity needed to run lights, refrigerators, stoves, heating and cooling. Some people who made the switch to Geothermal heating and cooling are seeing Hydro Bills above $1,000 per month since the pumps needed to circulate the glycol are run on Electricity.

This year the Hydro companies have turned off the power to 60,000 homes for not paying their Electricity bills ….

Meanwhile, this guy – Mayo Schmidt  the New CEO of Hydro One has decided to pay himself  $ 4 Million dollars a year Salary !  For what ? Extracting every last penny from the poor people of Ontario ? Please, tell me this is just a really really bad joke.

People in Ontario can no longer pay their Hydro Bills and are having their Electricity turned off and this guy gives himself a $3.5 Million dollar raise ?

It is Winter here and many people still heat their homes with Electricity, and now this guy, who elected to pay himself $4 Million a year is turning off their power ? Something is very wrong in Ontario.

No wonder everybody in Ontario wants to get off the grid.

From the Financial Post:
http://business.financialpost.com/executive/c-suite/hyrdo-one-ceos-pay-of-4-million-with-bonus-approaches-top-end

Notes:

Number of disconnections

According to the OEB, nearly 60,000 residential customers were disconnected from their hydro services in Ontario for non-payment last year – 9,772 of which were Hydro One customers. The OEB claims utility providers reconnect 99 per cent of households within two business days of disconnection. However, closer analysis of the data provided by the OEB shows that for Hydro One, this figure is significantly lower.
Of the nearly 10,000 disconnections performed by Hydro One last year, only 7,269 were reconnected, or roughly 75 per cent.

Alex

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