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Toronto Hydro not hiking rates to pay for ice storm

CEO Anthony Haines says they'll use profit earned during the summer to help cover the costs....

You're not going to be asked to shoulder the financial load of the ice storm, at least not by Toronto Hydro.

CEO Anthony Haines said Monday, that the utility had a very profitable summer, and they are going to use some of that extra money, to cover the 12.9 million dollar cost of the December ice storm.

Most of the cost goes to the labour of the wire workers, who worked around the clock getting the power turned back on to hundreds of thousands of customers around the city.

Haines said, "Our customers stuck with us, and they were out of power and I just didn't feel right asking them to pay."

"We've made a decision, we will not be asking the Ontario Energy Board for any relief due to the storm costs, therefore our customers will not be asked to absorb those costs. We think that's a fair settlement for everybody".

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  1. john posted on 01/27/2014 12:43 PM
    correction what thay stole form us talk about the biggest builshit on the plaint there enought here to fill up the grand canunon 10,000 times over
  2. Karl Burgin posted on 01/27/2014 01:55 PM
    Good move...
  3. DW posted on 01/27/2014 05:32 PM
    Non story ..................Big question...............Will the Mayor being holding his weekly Economic Forum at Steak Queen tonight??
    1. Karl Burgin posted on 01/28/2014 01:27 PM
      @DW Makes no sense. Here's one that does- will DW be getting head examined at CAMH?
  4. BP posted on 01/28/2014 09:55 AM
    Obviously all of us in Toronto have paid way too much for hydro, how do you explain that huge summer profit? Cut those fat cat execs salary to the Candian average wage!

    Totally unprepared & inadequate elec system for ice storm compare to many other industrlized cities. Why didn't they clear out all trees near power stations, or just bury the lines underground?!?
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