Bill Kelly: Hydro One's $6M man stays put, for now

During the recent election campaign, Doug Ford consistently vowed that on Day 1 of his new government, the first thing he would do is fire the “$6-million man.”

He is Hydro One CEO Milo Schmidt, who pulls down a hefty $6 million annually, and that enormous pay cheque made Schmidt a constant target for Ford, much to the delight of his cheering supporters.

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On Tuesday the Ford government announced its top three priorities as the legislature prepares to head back to work and, surprisingly, the firing of Schmidt didn’t even get a mention.

So, why did Schmidt fall out of the crosshairs of Ford’s push for “efficiencies?”

It could be that Ford, like all newly elected leaders, will be forced to mix a little pragmatism with his politics, now that he is making policy, not just promises.

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The reality is that firing Schmidt might be symbolic, but it comes with a $10-million price tag and frankly, it won’t do anything toward lowering hydro rates.

Besides, with looming, expensive legal battles over the cancellation of cap and trade and the shutdown of a half-completed wind farm project, the Ford government has bigger issues to deal with right now.

So, in spite of the campaign pledge, it looks like the $6-million man gets to stay put, for now anyway.

Bill Kelly is the host of the Bill Kelly Show on Global News Radio 900 CHML

© 2018 Global News, a division of Corus Entertainment Inc.

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