WHEN FORD FIRED MAYO, CRITICS DISMISSED HIS ACTION AS A POLITICAL STUNT.
FRANCE’S YELLOW VESTS AND THE TARSANDS OF ALBERTA MAN RECALLS ‘UNLAWFUL’ ARREST BY OFFICER WOUNDED IN COP-ON-COP SHOOTING REACTIVE MARKETING APPROACH TO MARIJUANA INDUSTRY IS DANGEROUS
EDITORIAL INQUIRIES critics — including me — dismissed his action as a political stunt.
And in some ways it was that. But it was also a signal that Ontario’s government would continue to take an active interest in a company that holds a monopoly over electricity transmission in this province.
Perhaps the government will use that interest to rein in the utility’s obsession with becoming a North American energy behemoth.
Indeed, while U.S. regulators delved into the question of whether the proposed merger with Avista would serve American interests, few asked what the deal would do for Ontario rate-payers.
Taking over a company that provides electricity and natural gas to Oregon, Idaho, Washington, Alaska and Montana might work to the benefit of Hydro One shareholders (including the Ontario government), but it would do nothing to improve the electricity transmission and distribution systems Hydro One owns in Ontario. Nor would it reduce the steep rates Ontarians pay.
In fact, acquisitions like the Avista deal risk shifting Hydro One’s focus from Ontario to the much more lucrative American market.
But that, of course, was always the aim behind the ill-fated decision to privatize Hydro One — a decision that otherwise made no economic sense.