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RSS FeedsJennifer Wells: Hydro One chaos sure to cause jitters over its multibillion-dollar U.S. deal
(The Star Movies)

 
 

13 july 2018 18:31:48

 
Jennifer Wells: Hydro One chaos sure to cause jitters over its multibillion-dollar U.S. deal
(The Star Movies)
 


Fun quiz — name the speaker:“Hydro One is not any more vulnerable to political change than any other investor-owned utility in Canada, or the United States for that matter.”Or: “The province does not have a role with the Hydro One Board in the processes of appointment, removal, replacement and compensation related to executive officers or over related succession planning.”Or how about: “The province cannot interfere in the management or operations of Hydro One.”If you guessed Mayo Schmidt you will understand the mess of confusion in Boise and Spokane and Coeur d’Alene and, heck, a vast swath of the Pacific Northwest now that the CEO of Hydro One is out the door, the board of directors has been tossed, and yet another government in power is promising a new era of accountability and transparency at the utility. Heard that before? Of course you have. Bonus points if you guessed that Schmidt offered those quotes in what was meant to be reassuring testimony in April before the Washington Utilities and Transportation Commission.So yes, as Premier Doug Ford chest thumps over the departure of Schmidt and the board from Hydro One, this column turns its attention yet again south of the border where Hydro One’s acquisition of Avista Corp. had, by mid-June, become even more contentious than it was when we last wrote about it in May.Read more:As the share price falls, retiring Hydro One CEO to get millionsDoug Ford’s Hydro One shake-up could risk $3.4-billion Avista acquisitionFord ousts Hydro One boss and the utility’s board of directorsA technical hearing, previously deemed unnecessary and vacated by the Idaho Public Utilities Commission, has been scheduled for later this month. Heated public hearings in Coeur d’Alene and Sandpoint in mid-June saw a robust turnout of disaffected members of the public opposed to the takeover. Hundreds of complaints — 400 at last count — have been received by ...


 
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