Doug Ford's 'efficiencies' seem to be costing taxpayers an awful lot of money - 2018-12-11
"The agreement resulting in the resignation of the Hydro One board and CEO elevated the provincial government's political interests above the interests of other stakeholders, including investors that own 53 per cent of Hydro One's common stock," the Washington Utilities and Transportation Commission said. In other words, the commission was concerned about Ford sticking his nose in it.
The decision will see Hydro One pay a $103 million US (or $138 CAD) penalty for terminating the agreement, in addition to other sunk financing costs.
In other words, the Ontario government will spend tens of millions of dollars to save $6 million.