Energy workers, including executives, should be paid what they are worth. In general, executive compensation in Ontario’s power system is reasonable, although overall pay scales in general within regulated and government-owned utilities are excessive. While most utility CEOs in Ontario appear to me reasonably compensated, the situation at Toronto Hydro is different.
Anthony Haines, the CEO of Toronto Hydro, has proven to be untrustworthy. As documented throughout this series, he lied under oath for more that 20 years about his credentials, his capital spending plans are chaotic to the point of causing blackouts, he threatens public safety, he shills for mismanaged government-directed conservation and “smart grid” programs, and he is dedicated to dramatically raising Toronto Hydro’s distribution rates which are already by far the highest of any urban utility in the province.
Toronto Hydro’s Board of Directors should have fired Mr. Haines with cause years ago. Instead, in 2014 Toronto Hydro consumers were forced to shell out $969,403 for his services not counting his post employment benefits. The salary disclosure is contained in Toronto Hydro’s Annual Information Form posted to SEDAR.
Here is Mr. Haines last week helping the Ontario government promote energy poverty.