AUDITOR GENERAL CONDEMNS ONTARIO'S HYDRO PLAN

Oct 17, 2017

By Bob Komsic

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The Wynne government’s ”Fair Hydro Plan” is anything but in the view of the auditor general who finds the accounting is ”wrong”.
(Frank Gunn / Canadian Press)
In a just released special report in which she investigated the financing of the Liberals hydro plan, Bonnie Lysysk says the government purposely hides the true financial impact to avoid showing a deficit on the province’s books.
It lowers rates for 10 years by removing a portion of a charge that guarantees rates to power producers over that period.
They’ll continue being paid the same so the debt will be used to pay that difference.
Lysyk says the government’s proposing to treat that loss as an asset.
”That’s like you treating your credit card debt as an asset in your books.  Does that sound right to you?”
It does not to the opposition energy critics.
Tory Todd Smith told Zoomer Radio’s ”Fight Back” with guest host Jane Brown ”this is four times the gas plants scandal,” which cost taxpayers over $1-billion.
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