Hydro One sale threatens social spending, Horwath says

“Kathleen Wynne's plan to privatize Hydro One will put all that at risk and leave Ontarians paying higher hydro bills.”

Horwath said earlier privatizations of hydro have led to the tripling of hydro bills. Since 2002, privatization has driven the cost of energy from 4.3 cents per kilowatt-hour to 14 cents per kilowatt-hour, the press release said.

“Kathleen Wynne won’t make any guarantees about rates, and neither can Ed Clark (chair of the Premier’s Advisory Council on Government Assets),” said Horwath. “Ontarians didn’t vote for this. They don’t want this, and we’re going to make sure that Kathleen Wynne hears that loud and clear over the coming weeks.”

The province hopes to raise as much as $4 billion through selling the majority of Hydro One shares through an initial public offering (IPO) and allowing Hydro One Brampton to merge with three other utilities in the Toronto area.