TORONTO, ON – The Keep Hydro Public coalition is calling on the Ontario government to immediately halt its planned sale of Hydro One shares and initiate a full public inquiry into the process and its links to the fundraising scandal.
“Following news that companies profiting from the sale are involved in big-ticket fundraisers for the Liberal Party, we are calling for a public inquiry into the fundraisers and the sale,” said Minerva Hui, a spokesperson for Keep Hydro Public. “The evidence is mounting that the Liberals are using Hydro privatization to funnel millions to the big banks who are bankrolling their next election campaign.”
Hydro One announced it plans to sell a second block of shares in April, following the sale of 15 percent of the company in November.
“Eighty-five percent of Hydro One belongs to the people of Ontario – all of us. Selling shares reduces public accountability and reduces public control of an important lever in the fight against climate change. More than 80 percent of Ontario residents oppose Hydro privatization, including the majority of Liberal voters. Stopping the sale is the right thing to do,” she said.
In addition to massive public opposition across the province, a long list of public accountability experts have warned that Hydro privatization is a bad idea. The province’s Financial Accountability Officer reported that the sale will end up costing the province $500 million a year in lost revenue.
Keep Hydro Public recently launched a new phase in our campaign to stop Hydro privatization and is launching local campaigns across the province linking MPP votes on the Hydro sell-off at Queen’s Park and their role as locally elected representatives.
The Keep Hydro Public campaign is supported by more than 20 community, labour, environment, anti-poverty and student organizations. Find out more about the campaign at KeepHydroPublic.ca.
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