AuditorÂ’s review sought for Toronto Hydro

subscribe

Toronto city council wants to look closer at city-owned Toronto Hydro in the wake of the utilityÂ’s efforts to remove limits on pensions for its executives.

At the urging of Councillor Michael Thompson, council voted 34-0 to look at whether it can send in city auditor general Jeff Griffiths to conduct a review.

Councillor Michael Thompson said a Toronto Star story about Hydro pensions was an eye-opener.

“I think clearly this is a group of people that are well compensated,” Thompson told council.

The Star reported that Hydro has launched a lawsuit against the OMERS pension fund to overturn limits on pensions of executives who earn large bonuses.

“I think it’s important for us to understand how business is done at Hydro,” Thompson said. “We should all be very concerned about what’s happening there.”

Council instructed city manager Joe Pennachetti to report to the May 24 meeting of councilÂ’s executive committee on whether council could send in its auditor general.

“The buck has to stop with us,” he said.

Councillor Mike Del Grande said he thinks council, as sole owner of Hydro, should be able to carry out an oversight role.

“Even though it has its own board, at the end of the day we’re basically in control,” Del Grande said.

Related News

california-electricity

As California enters a brave new energy world, can it keep the lights on?

LOS ANGELES - Gretchen Bakke thinks a lot about power—the kind that sizzles through a complex grid of electrical stations, poles, lines and transformers, keeping the lights on for tens of millions of Californians who mostly take it for granted.

They shouldn’t, says Bakke, who grew up in a rural California town regularly darkened by outages. A cultural anthropologist who studies the consequences of institutional failures, she says it’s unclear whether the state’s aging electricity network and its managers can handle what’s about to hit it.

California is casting off fossil fuels to become something that doesn’t yet exist: a fully electrified…

READ MORE
trailers in medicine hat

Electricity deal clinches $100M bitcoin mining operation in Medicine Hat

READ MORE

substation

UK National Grid Commissions 2GW Substation

READ MORE

alaska nuclear plant

US looks to decommission Alaskan military reactor

READ MORE

powerlines

Quebec authorizes nearly 1,000 megawatts of electricity for 11 industrial projects

READ MORE