Auditor General’s Report Confirms Liberal’s Energy Policies in Disarray
QUEEN’S PARK – Today at the Legislative Assembly, Auditor General Bonnie Lysyk revealed the unprecedented waste, mismanagement, and disarray in the province’s electricity system after 12 years of Liberal incompetence.
Unfortunately for ratepayers, it only confirms the suspicion of PC Energy Critic John Yakabuski. Namely, that all of the electricity promises made by the Liberals over the years have turned out to be untrue.
In her report, the Auditor General found that Hydro One has a $4.4 billion backlog in needed infrastructure. This will mean additional rate increases to Hydro One customers on top of the substantive projected escalations. Yakabuski noted that because of the Liberal’s fire sale of Hydro One, this will be the last report in which the Auditor General will be able to scrutinize the utility.
Another troubling discovery today was that the Liberals have overpaid for renewable energy contracts. “A shocking $9.2 billion more has been paid for these green energy contracts because of the political manipulations of this Government,” said Yakabuski. “Had the Liberals taken the politics out of renewable energy procurement, we would not have seen such dramatic increases to people’s hydro bills in recent years.”
Sadly, there is no relief on the horizon from ratepayers already weary from Liberal mismanagement on the energy file and the resulting skyrocketing hydro bills. Even though Ontarians have already paid $37 billion in global adjustment fees, the amount expected to be paid into the global adjustment from 2015 to 2032 is a staggering $133 billion.
“Whether it is the selling of Hydro One, interfering in the procurement of renewable energy contracts, or the global adjustment—every major energy policy initiated by this government has been an unmitigated disaster,” said Yakabuski. “Unfortunately the Liberals seem unwilling to change direction, meaning that ratepayers will continue to suffer from now until the next election,” he concluded.