Specifically: It is a study of incompetence, waste, greed and downright stupidity on the part of Hydro One and various politicians--including Ernie Eves and Dalton McGuinty.
Consider this: In 2002 the then Chairman of Hydro One, Eleanor Clitheroe, was fired because she: "used credit cards contrary to company policy. They [Ontario Power Group Board] said she also obtained club memberships at the company's expense. Many of those memberships had no business-related purpose, the board said. Clitheroe is also said to have used Hydro One service providers to do renovations to her home."
At the time she made over $2.2 million, including $174,000 for a car and $172,000 in vacation pay. Clitheroe also stood to get $6 million in cash if she left Hydro One for any reason, and she stood to receive an annual pension of up to $1 million."
During Clitheroe’s tenure, no bookkeeper, accountant, civil servant or administrative chief at Hydro One ever noticed that the same employee costing us $330,000 in limousine rides was taking some $214,000 in car allowances. If any of them did notice, they kept mum. During the entire Clitheroe reign, there were no enterprising reporters ringing alarm bells.
Oh, and by the way, she got a $6.5M severance package and a $300,000+ annual pension when she went out the door.
And if that isn't bad enough, her replacement chair, Tom Parkinson 'resigned' after it was disclosed that he improperly charged his secretary's credit card with $45,000 of expenses.
The then Minister of Energy, Dwight Duncan, (now Minister of Finance) wouldn't reveal the exact amount Parkinson was paid to walk away, but Parkinson was Ontario's highest paid public employee, earning $1.6 million in salary and bonuses last year. His severance package could have been worth as much as $3 million.
So, if you want to know why hydro bills went up an average of $4.00 per month, take a long hard look at the above.
Gerry Burnie
PS. Has anyone any idea how much money has been collected through the "debt retirement charge?"
***
And while we're on the topic of Debt Retirement Charge...
Anyone know what "defeased" means? In the Ontario Electricity Financial Corporation's statement it reads: “The Electricity Act, 1998, provides for the Debt Retirement Charge (DRC) to be paid by consumers until the stranded debt is defeased.” see: http://www.oefc.on.ca/debtmanage.html. However, I've checked two dictionaries, i.e. Webster's and Oxford, and I can't find it.
No comments:
Post a Comment