Canadian Manufacturing

Horwath defends hydro plan, says she can cut rates by 30 per cent

The NDP leader has pledged to slash rates by 30 per cent through a number of measures and spend up to $4.1 billion buying back shares of Hydro One

May 29, 2018  by The Canadian Press

The NDP has been surging ahead in recent polls. Ontarians vote on June 7. PHOTO: Andrea Horwath/Twitter

TORONTO—NDP Leader Andrea Horwath is defending her hydro plan today, reaffirming her pledge to lower rates and buy back shares of Hydro One.

Horwath, facing criticism from the Tories for her plan, says one of the first acts of a New Democrat government will be to gather expert advice on how to best conduct the share buy-back of the partially privatized utility.

She listed companies including Heinz, Panera Bread, and Dell, who initially went public and then later bought back shares.

Horwath says the NDP would use the dividend paid by Hydro One to the province to buy back shares, which the Progressive Conservatives say would benefit shareholders.

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Horwath has pledged to slash rates by 30 per cent through a number of measures and spend up to $4.1 billion buying back shares of Hydro One.

The NDP has been surging ahead in recent polls, competing with the Progressive Conservatives for first place ahead of the June 7 vote.


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