Publicly dressed down yesterday by the OEB for lying to the public over available capital funds and for making drastic, damaging staff cuts without availing itself of remedies the regulator has provided, Toronto Hydro’s self-inflicted crisis continues.
A credit report issued by BMO in response to the OEB’s recent decision has noted: “In our view, the decision was both neutral in tone, and appears to strike a fair balance between the needs of both the utility and ratepayer”. BMO’s biggest concern appears to be the possibility that the relationship between Toronto Hydro and the OEB may be deteriorating, a concern that all Toronto Hydro customers should share.
If anyone has access to any other analyst, rating agency, or bank reports referencing this decision, please share. You can post them here or correspond with me in private.
Toronto Hydro’s irresponsible actions way well increase the utility’s cost of capital.