Perks for executives at government-owned utilities have been eliminated by the Ontario government, cutting access to golf memberships and box seats at arenas and theatres.
A government-ordered review of salaries for top executives of Ontario Power Generation and Hydro One led to the changes. The review was called after criticism was leveled at executives for salaries that topped over the $1 million mark.
Chairman Jake Epp said OPG started its review by cancelling box seats at the Air Canada Centre, the Rogers Centre and the Stratford and Shaw festivals.
Epp also said OPG cancelled "a fairly attractive stable of memberships" in Ontario golf clubs.
The number of top executives was also cut from 29 to 22 and salaries frozen. Long term incentive plans for execs were also put on the chopping block.
Officials at OPG said they are trying to find the right balance between private sector pay levels and the salaries paid by other public utilities in Canada and the U.S.
Hydro One's former CEO walked away from his job with a $3 million severance package in December of last year. He quit amid criticism of his expenses and his $1.6 million salary and bonus.
The review of salaries for Ontario energy executives was launched in January. Ontario's government said it would not appoint a new CEO before the review finished its work.
With files from The Canadian Press
