TORONTO - The Liberal government will not appoint a new CEO of transmission utility Hydro One until a review of salary levels for Ontario energy executives is completed.
Former Hydro One CEO Tom Parkinson walked away with $3 million in severance last month when he quit amid criticism of his expenses and his $1.6 million salary and bonus.
Energy Minister Dwight Duncan will appoint a panel today to review the way compensation is determined for executives in the provincial energy sector, and report by late spring.
Duncan says salaries increased when Ontario's previous Conservative government tried to privatize the electricity market, a failed experiment that the Liberals won't revisit.
He says the Liberals want salaries to reflect the fact hydro executives are public servants, not private-sector players who need to earn Bay Street-levels of pay.
The panel will also look at areas of overlap between the various provincial agencies involved in the generation, transmission, regulation and marketing of electricity.
