Hydro One Information Request to the Ministries of Finance and Energy

May 15, 2015

Mr. Scott Thompson
Deputy Minister, Ministry of Finance
Frost Building South
7th Floor
7 Queen's Park Crescent
Toronto, ON M7A1Y7

Mr. Serge Imbrogno
Deputy Minister, Ministry of Energy
Hearst Block
4th Floor
900 Bay Street
Toronto, ON M7A2E1

Dear Mr. Thompson and Mr. Imbrogno,

The mandate of the Financial Accountability Officer (the Officer) includes providing the Legislature with analysis of the province’s financial position and economy, research into estimates and supplementary estimates, as well as analysis of the financial costs and benefits of any bill before the Legislature.

I am currently undertaking an analysis pursuant to section 10 [1] (a) of the Act to establish a Financial Accountability Officer (the Act), which mandates the Officer, “on his or her own initiative, to prepare an independent analysis to the Assembly about the state of the Province’s finances, including the budget…”  More specifically, this analysis focuses on the fiscal impact of the planned divestiture of up to 60% of the Government of Ontario’s Hydro One equity holdings.

In pursuing this work, I request that as per section 12[1] of the Act, that your organization provides the following information:

  • The data, information and related assumptions that support the Government’s valuation estimate of Hydro One, as well as any information that explains the Government’s assessment of the fiscal impact on the Province of Ontario’s financial statements.

We would appreciate that you provide access to this information by June 2, 2015.

Should you or your staff have any questions about this information request, the analyst responsible, Jason Jacques, can be contacted directly at jjacques@fao-on.org, 416-550-9430.

I want to thank you for your assistance in this matter.  Providing timely and relevant analysis to the Legislature is my primary objective.  The degree to which this is possible depends, to a large extent, on free and timely access to quality information held by government departments.  In doing so, you are assisting us in better serving Members of the Provincial Parliament.

Sincerely;

Stephen LeClair
Financial Accountability Officer

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