H1 IS A NATIONAL SCANDAL By Joe Ingino b.a.

By Joe Ingino b.a.
Editor/Publisher

“I live a dream in a nightmare world”
  
H1 IS A NATIONAL SCANDAL
   Please someone explain this tome.  I been told I am not the brightest star in the galaxy...  but how can our elected officials let this out right rip-off go on.
  This week Hyrdo One proudly boasted that on the first quarter it sported a 33 percent profit from last year....  PROOOOFFIIITT?
According to public record.  Hydro One is owned:  In January 2018 the Ontario government announced they had sold over 14 million shares of Hydro One to OFN Power Holdings, a partnership controlled by 129 First Nations around the province. The shares represent 2.4% of outstanding common shares, reducing the government's stake in the company to approximately 47.4%. Area served: Ontario.  Owners: Government of Ontario (47.4%)
Total assets: CA$ 25.701 Billion (2017)
Revenue: CA$ 5.990 Billion (2017)
Ontario Power Generation Inc. (OPG) is a Crown corporation wholly owned by the Government of Ontario. OPG is responsible for approximately half of the electricity generation in the Province of Ontario, Canada. Sources of electricity include nuclear, hydroelectric, wind, gas and biomass. Although Ontario has an open electricity market, the provincial government, as OPG's sole shareholder, regulates the price the company receives for its electricity to be less than the market average, in an attempt to stabilize prices. Since 1 April 2008, the company's rates have been regulated by the Ontario Energy Board.
OPG was established in April 1999 under the Ontario Progressive Conservative government of premier Mike Harris as a precursor to deregulation of the province's electricity market. As part of government plans to privatize the assets of Ontario Hydro, the utility was split into five separate corporations. OPG was created as the owner and operator of all of Ontario Hydro's electricity generating stations.
If this stand true... these so called profits.  Where do they end up?  How is the government not using these profits to lower the rates?
One would think that if the corporation is profiting that the rates may be to high.  I know the corporation has investments.  Either way.  Why is the government not using those profits to lower the common consumers rates.
Instead they go up.  On the same breath.  The Chair of the corporation makes 6 million dollars a year.  How can any elected official with any integrity allow this rip off to take place?
Are we to assume that these Hydro One executives are some sort of super humans?  That they are worth 6 million a year.
Yet, if you look at your Hydro bill you are paying in many cases utilities retired debts... like really.  How about using those millions in profits to forget outstanding debts by consumers.  People that can’t afford to pay their hydro.
No instead the board members give each other $25,000 bonuses for their great work.  I shame the conservatives that started this orgy of incorporating a public company.  I shame the Liberals for not putting a stop to it.  I shame the NDP for not picking up and making it a priority in the upcoming election.  Then again.  It is a legal way to extort money from the masses.  YOU PAY OR WE CUT YOU OFF... this is nothing short of legal organized crime.