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Tory denies report talks underway to sell Toronto Hydro

By News Staff

Posted March 4, 2017 9:02 pm.

Last Updated March 4, 2017 9:05 pm.

This article is more than 5 years old.

Mayor John Tory is denying reports that talks are underway on a proposed deal that would see Toronto Hydro sold to Hydro One.

Reuters reported Saturday that Hydro One was in talks to buy the city-owned utility for $3-billion and that the two sides have been in talks for the past few months.

“I can confirm that no discussions are taking place with respect to the sale of Toronto Hydro to anyone,” Tory said in a statement released late Saturday.

Tory adds he has always been opposed to any proposal to sell Toronto Hydro and in fact, is pushing for additional City investment in the utility so that it remains in public hands.

“We are presently exploring how we can make that investment happen on that basis so that we have a reliable, up to date electricity provider for the people of Toronto.”

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