AuditorÂ’s review sought for Toronto Hydro
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.
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TORONTO - The Ontario government is introducing a new “ultra-low overnight” electricity plan that can benefit shift workers and individuals who charge electric vehicles while they sleep.
Speaking at a news conference on Tuesday, Energy Minister Todd Smith said the new plan could save customers up to $90 a year.
“Consumer preferences are still changing and our government realized there was more we could do, especially as the province continues to have an excess supply of clean electricity at night when province-wide electricity demand is lower,” Smith said.
The new rate, which will be available as an opt-in option as of May 1,…
