Ontario Raises Nearly $2b with Hydro One Sale

Province Touting Profit, Opposition Warning Of Higher Hydro Rates

Love the idea or hate it, Ontario says they’ve raised almost two billion with the sale of Hydro One shares. Provincial bean counters have poured over the numbers after the April 5th sale of near 72 and a half million common shares, and say it generated 1.7 billion dollars in proceeds, the bulk of which will go towards infrastructure investments. The province says they continue to hold a 70 per cent share in Hydro One, but are expecting to sell off more. The provincial opposition balks at the plan, saying it’ll lead to even higher hydro rates.