The important thing about Hydro One’s recently announced acquisition of an American power company is not that it gives our former public utility a tiny stake in an American coal-fired power plant, although the premier’s efforts to justify it have been amusing.
What does matter is what the $4.4-billion deal tells us about Hydro One’s priorities. The company’s focus is clearly on expanding into the U.S., not serving Ontario customers better.
In buying Avista, Hydro One is simply doing what businesses do, growing wherever it can to boost earnings and share prices. The key indicator of success is meeting the short-term expectations of the stock market.http://ottawacitizen.com/opinion/columnists/denley-hydro-one-no-longer-has-ontarians-interests-at-heart