Author Topic: Ontario Government of Doug Ford  (Read 10106 times)

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Offline MH

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Re: Ontario Government of Doug Ford
« Reply #180 on: December 07, 2018, 06:43:20 am »
Hydro1 is on the hook for $138 million to pay the other power company. Ontarians are going to pay for that. 

DoFo cost Ontario a lot of money.

This Reddit thread captures the Globe & Mail article: note to self, subscribe to G&M

https://www.reddit.com/r/canada/comments/a3pjbx/doug_ford_gets_rid_of_the_6million_man_and_costs/

Quote
Right now, the deal is dead and Hydro One is on the hook for a US$103-million termination fee owed to Avista. In addition, Hydro One will have to eat at least $49-million in commissions to investment banks that lined up $1.4-billion in financing for a takeover thatís not going to happen. And the utility must pay millions in legal bills. It all adds up to a significant financial setback for Hydro One, which posted a $227-million profit in the most recent quarter.

Of course I would LOVE to blame Douggie for this one but I have to be true to my objectivity and frankly I find it a little suspicious that they would terminate this deal based on him firing the CEO.  But the bill comes to over $185 M ($103M US ~ $138M CDN plus $49M CN).

I would put that on a par with Wynne.