MPP of Timmins-James Bay, Gilles Bisson is concerned for northern communities if the sale of Hydro One continues to move forward.
The Financial Accountability Officer’s recent report in Queen’s Park says the sale is a bad deal for Ontario families and businesses.
Bisson says the report indicated a possible sale price of $1.4 billion, while the revenue from Hydro One is $700 million a year.
He says losing that revenue in the long term could have serious effects on Ontario residents.
Bisson says it doesn’t quite fit the formula for investing in infrastructure.
FONOM recently announced its stance against the sale of Hydro One.
Bisson says, in the long term, it could affect organizations like FedNor or the NOHFC which provide a great deal of funding to northern communities.
He says Wynne should reconsider the sale after the results of the FAO’s report.
