Former Ontario government “specifically designed” practices to hide debt: Fedeli

Fair Hydro Plan “specifically designed” to hide debt

September 21, 2018

News report: CTV News

In a shocking speech in Toronto this morning, Ontario Finance Minister Vic Fedeli said the provincial debt is $15B, a fact that was hidden from the public by the former government.

In fact, during the pre-election period this year, the Wynne government claimed it would have a “small surplus” when the reality was a deficit of more than $3B.

The Global Adjustment charge on electricity bills and the Fair Hydro Plan were “specifically designed” to hide billions in debt.

The bad practices started early on with the Green Energy Act, Fedeli said, in which Liberal insiders were given lucrative contracts for wind power projects to supply power Ontario didn’t need.  The government started the process to repeal the Green Energy Act, which was supported by the NDP in 2009, yesterday.

Mr. Fedeli said that the Ford government plans to enact solid financial management.

They could start by cancelling the Romney Wind and Nation Rise wind power projects, which would represent savings of $700 million.

contact@windconcernsontario.ca

 

Comments

Stan Thayer
Reply

Why is the truth always “Shocking” to the media?
I am sure the small surplus was in one of the Liberal kickback accounts!
Nothing in this posting or what Mr. Fideli said is news. The amount borrowed from Liberal cronies to install the Fair Hydro Plan is still hanging over our heads and the debt to support it compounds daily.
No one knows the total Ontario debt because the backdoor creditors are not all in Canada and may never be found.
My personal hope is that the lawyers and financial institutions that allowed and caused this crisis to happen are not allowed to continue the financial rape of Ontario ratepayers.
MARK MY WORDS!
The silent partners to the Liberal government will come back for their money as soon as the Liberals get voted back in.
It will be sad and interesting to watch as the fair hydro plan payments come due in about 3 years!
Corruption with transparency, gotta luv it.
Stan Thayer

Jjoe
Reply

This claim is dubious at best. The ‘jump’ in the size of the deficit was caused by a change in accounting methods. Media reports state that the method used was used by the previous Conservative government. The auditor general accepted this method until she changed her mind after the Liberals came to power. Independent auditors backed the Liberal accounting methods. So the stink is political not real. Just the Conservatives gearing up to make cuts and blame them on the previous government.

Jjoe
Reply

Does Fedeli named the Liberal insiders? How many insiders were involved compared to the overall number of contracts? How were these insiders advantaged over others? This claim is becoming a constant theme. Liberal insiders are blamed but no proof, like names, are revealed. Until hard proof is offered a political smear and nothing more.

Wind Wraith
Reply

hey Jjoe, how about this for a name:
Mike Crawley….
we could tell you about him being president of the Liberal party and all the hugely lucrative wind scam contracts his company got… but why don’t you check it out for yourself?

Jjoe
Reply

So 1 name. Total number of contracts let? Total number that were awarded to this guy? What underhanded methods were used to advantage this guy and his company/companies? How many Conservative supporters were awarded contracts?

Notinduttondunwich
Reply

Lol.. Jjoe…

Jjoe
Reply

Notinduttondunwich, thanks for your support.

Notinduttondunwich
Reply

Jjoe you must have been in line for one of them turbines bud….. im finding that leaseholders that got their contracts scrubbed are very upset that they are not going to be able to take advantage of their friends.. family and neighbours through high priced hydro contracts…. shame on you Jjoe!!!

Jjoe
Reply

You make an allegation with no evidence and that have no factual basis. And the shame is on me?

Notinduttondunwich
Reply

The jump in the size of the deficit was caused by over priced contracts given out to donators to the liberal party…. the liberal party then punted the 20 something billion dollar fair hydro plan from their books… its now spinning in the air collecting debt…. apparantly according to the libs its no ones debt till that sucker drops then look out… it will have swelled to 60 billion…. also OPG assets were sold off in downtown Toronto and the funds went into general accounts…. i wish i coould do some off that mystery math on my uear end!!! If i did im sire CRA would punish me to the full extent of the law!!!

Jjoe
Reply

“Thibeault noted the government wanted electricity subsidies to be charged to the rate base, not the tax base, and stressed the similar accounting practices used in Alberta, Texas, New York, Minnesota, and other jurisdictions.

“Electricity financing should remain within the electricity system,” he said.” 1)

So the idea is not new, not unique, and used in places like Alberta. The rationale used by the former Minister of Energy appears sound. Was it also designed to get the debt off of the government’s books? Probably.

1) Ontario’s 25-per-cent cut to hydro rate carries $4B pricetag: watchdog
By ROBERT BENZIEQueen’s Park Bureau Chief
Tues., Oct. 17, 2017

https://www.thestar.com/news/queenspark/2017/10/16/ontarios-financial-watchdog-sounds-alarm-over-hydro-rate-cut.html

Jjoe
Reply

“also OPG assets were sold off in downtown Toronto and the funds went into general accounts…. i wish i coould do some off that mystery math on my uear end!!! If i did im sire CRA would punish me to the full extent of the law!!!”

I guess the law would have to look at the highway 407 sale. The PCs did the same thing. Asset sold and money into general revenue. Wrong then and wrong now.

Jjoe
Reply

“The jump in the size of the deficit was caused by over priced contracts given out to donators to the liberal party…. t”

Names of these donors please. Easy to say harder to prove.

Jjoe
Reply

I have raised several points about the issue raised. So far, 1 Liberal name has been put forward. Hardly a cavalcade of Liberal insiders. I did ask how many Conservatives invesed in wind farms. So far, no answer provided. I did ask how any insider was advantaged to get wind contracts. So far, no answer. I did ask how many contracts were awarded to this guy verses the total number of contracts let. So far, no answer. The wind farm situation was a fiasco from start to finish. However, I do not support unsubstantiated accusations. If there is evidence of wrong doing lets see it. If it rises to criminal actions call the cops. If found guilty jail the bastards. We are a long way from that.

Jjoe
Reply

Notinduttondunwich You too are a wind farm/solar farm investor. Albeit an unwilling one I’m sure. “Canada Pension Plan Investment Board (CPPIB), the agency that manages the federal government-mandated pension fund, is snapping up six fully-operational wind and solar power projects in the region, part of a $741-million deal with global power giant NextEra Energy Partners.“ 1

If you belong to another pension fund or have mutual funds you may additional holdings in the green energy field.

1) CPP to invest in six Southwestern Ontario solar, wind farms
The pension fund has invested in similar projects in other countries

JENNIFER BIEMAN Updated: April 3, 2018

https://lfpress.com/news/local-news/cpp-to-invest-in-six-southwestern-ontario-solar-wind-farms

Notinduttondunwich
Reply

I am so an unwilling investor in this ponzi scheme…. the only good thing about CPP buying those sick dog projects is that it is now split 35 million ways instead of just on the backs of Ontarions….
I belong to no other pension funds as i am self employed and again i would never invest in this scam on my own accord….

Jjoe
Reply

You are self employed. Must be the slow time of the year. You have lots of time to post to this website. I am retired. Lots of time to do what ever I want.

Notinduttondunwich
Reply

Those companies that sold the projects to CPP knew what was “blowing in the wind” so to speak…. again the GEA was nothing but a transfer of wealth from ordinary citizens to the libs fatcat donators…. period…

Jjoe
Reply

No evidence supplied.

Jjoe
Reply

Mutual funds? If you have them do you know what every investment they have made?

Notinduttondunwich
Reply

Nope sorry….

Notinduttondunwich
Reply

Im sure you do Jjoe…. along with some Marijuana stocks too…. hope you dont cross the border bud!!!

Jjoe
Reply

I can cross the border much easier than Doug Ford. THE GLOBE AND MAIL asserted he sold hash. Doug mused about suing but never did. If the allegation is linked to his name on the US computer system he may get special attention when he crosses the border. I, on the other hand, am allegation free.

Notinduttondunwich
Reply

Mr Ford did cross the border with no problems for the NAFTA meetings… no???

Jjoe
Reply

His brother Rob crossed many times until he flew to Chicago to enter rehab. Media reports indicate that there were problems with his entry application and he decided to return to Canada. Will Doug Ford’s past regarding allegations of selling hash catch up the border? Maybe. Will my past catch up to me? No. No allegations and no criminal activity on my part.

Notinduttondunwich
Reply

Well at least we agree that they should “lock her up” premier Ford is launching an investigation with charges forseeable!!

Jjoe
Reply

I am not a willing investor in wind, solar, or marijuana stocks. I will not be crossing the border with any sort of bud.

Jjoe
Reply

I don’t agree that Wynne should be locked up. Evidence needed and a guilty verdict before anyone is locked up. After a finding of guilt let the legal chips fall where they may.

Notinduttondunwich
Reply

407 is a sretch of hiway Jjoe … i guess if every person in Ontario had to use the 407 as a basic human to survive then you have a point.. but to compare the sale of a stretch of torantas hiway to our electrical grid in ontario is absurd!!

Jjoe
Reply

“407 is a sretch of hiway Jjoe … i guess if every person in Ontario had to use the 407 as a basic human to survive then you have a point.. but to compare the sale of a stretch of torantas hiway to our electrical grid in ontario is absurd!!”

The issue you raised had to do with asset sales and the money going into general revenue. This happened with the 407 sale. If it is wrong now it was wrong then. You appear to try and muddy the waters with your post. Your attempt to evade the issue you your self raised is absurd.

Notinduttondunwich
Reply

Thought OPG assets were ratepayers assets not taxpayers assets….i guess if you use liberal math they can…. or cant be used where ever they see fit… and of course since hydro one is public now there can be no audit or investigation by the auditor general or anyone for that matter… convenient….

Jjoe
Reply

Keep spinning. 407 sold and the proceeds went into general revenue. Hydro assets sold and proceeds went into general revenue. Both actions were wrong.

Jjoe
Reply

Ontario Power Generation is wholly owned by the Government of Ontario. That makes the assets owned by the government. “OPG is a commercial company that is 100 per cent owned by the Province of Ontario.​” 1)

1) FREQUENTLY ASKED QUESTIONS

https://www.opg.com/pages/Faqs.aspx

Notinduttondunwich
Reply

So then the erasing of harddrives to cover evidence of the gas plant mishandling should fall only on those convicted and not go any further up the chain of command??? Mcguinty et al….

Jjoe
Reply

The eraser of hard drives was wrong. If a case can be made against McGuinty take it to court. If found guilty a jail sentence would be, in my opinion, appropriate.

Notinduttondunwich
Reply

Well i guess thats that jjoe…. must have been an incredible life you have lived so righteous and all… off to bed you go… ill keep working hard to pay for your buddies the liberals mistakes…

Jjoe
Reply

I am amazed at this answer. You, who advocate jailing many people, scoff at someone who is arrest/conviction free. Do you have some legal skeletons in your closet? As for working, you spend time posting to the internet instead of working. If you concentrated on your work more you might be able to ‘work’ shorter hours.

Notinduttondunwich
Reply

Oh Jjoe i am sorry if i upset you… i did not scoff at you and did not ever say anything about you being a criminal… i too am arrest and criminal conviction free… good for you and me…
you assume that because i have time to post here that i am not working.. poor assumption… i work very hard and am very succesfull… so much that i do not need the governments help to retire… in fact Jjoe i could probably provide for your retirement as well… i do advocate for jailing people who lie… cheat.. and defraud anyone…. especially when its defrauding seniors!!! With a fair trial of course…. my issue i guess here is that i feel the liberal government lied…. cheated… and stole from not just hydro rate payers… not just ontarions… but all canadians… now we all must start paying for the Greed Energy Act…
So i might have some facts mixed up… but the jist of this whole board is that the liberal government of ontario under Dalton McQuintey and kathleen Wynne lied… cheated… and stole billions of dollars from ratepayers.. ontarions and canadians… like Mr Ford says…. you dont just get to walk away from this mess… billions of dollars were bilked from ratepayers and its wrong… you are right about the ontario assets into the general fund for the 407 but again to compare a stretch of hiway which most can not afford to use to an entire provinces electrical system … which some can not afford to use….
well… just not sure boit the comparison Jjoe… i will never use the 407 but but i do use alot of hydro… 407 not an essential service… hydro is an essential service!! Essential part of life…
Thank you
Good day sir….

Notinduttondunwich
Reply

Ps Jjoe… good thing about this country is that we are free to express our opinions … i actually did learn a few facts from your posts that clarified several issues… OPG … 407.. thank you…

Jjoe
Reply

You are welcome. Please have a good day.

Leave a comment

name*

email* (not published)

website