Michael Gravelle is reiterating that the province will retain the largest share of Hydro One at 40 per cent.
Gravelle was one of three ministers on hand to answer questions during the Northwestern Ontario Municipal Association’s minister’s forum this afternoon.
Amid concerns from municipal leaders that rates will skyrocket, Gravelle says the government is going to begin with an initial public offering of only 15 per cent, to make sure customers are protected.
Municipalities are expressing concern that extending the Northern Industrial Electricity Rate program will have no benefit to businesses, because potential hydro increases will offset any savings.
Bill Mauro adds the energy sector is closely regulated by the Ontario Energy Board, with the control of the price point resting on the OEB. (Photo: Caryn Ceolin)
