BIG RAISES FOR HYDRO ONE'S BOARD

May 15, 2018

By Andy Johnson

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Hydro One’s part-time board members have voted to give themselves $25,000 dollar raises while under fire for sweetening severance package for executives and at a time when the company’s share price is slumping.

The 13 regular board members already get $160,000 in compensation; half in cash, half in Hydro One shares.  Board Chair David Denison, gets $260,000 dollars.  His pay is to rise by $70,000.  All were appointed by the Wynne Government as it began the privatization process in 2015.

The Ontario government retains a 47% cent ownership share of Hydro One and last month ordered the company to revisit the severance plan.

P.C. Leader Doug Ford has been relentless in his criticism of how the Wynne Government has handed the hydro file. Liberal Leader Kathleen Wynne has defended the Hydro One privatization as necessary to raise funds to build new infrastructure and transit projects. N.D.P. Leader Andrea Horwath’s platform includes a promise to bring Hydro One back into public hands.

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