As noted in “Crisis Report ““ Part 19″, Tony’s Hydro chair Clare Copeland wrote to the Ontario Energy Board on January 20th. One element of that letter was the following statement:“…we have not met the OEB’s minimum reliability standards for distribution companies for the past five years.”Here are the utility’s comments contained in successive Annual Information Forms summarizing the basis upon which the utility issued performance-based incentive payments to senior executives over the last 3 years:

“The Corporation achieved all of its 2010 performance objectives, except for the objective related to SAIFI.”“The LDC (Toronto Hydro) achieved all of its performance objectives except for the objective related to net income (in 2009).”

“Each of the Corporation (the holding company), LDC (the regulated utility) and TH Energy (unregulated subsidiary) exceeded their objectives for 2008.”

Here are the incentive pay amounts paid to Anthony Haines by the utility under the leadership of Clare Copeland:

2010: $340,018
2009: $224,166
2008: $217,372

The amounts noted here do not include salary payments and “Other compensation” amounts that cover costs for perks like luxury car leases.

Post Script: Here is an example of some of the news coverage arising from this post.