It’s time to short circuit hydro executive pay in Ontario.

That’s what Progressive Conservative leader Patrick Brown is vowing if he’s elected premier in the next provincial election.

At an election-style event in front of Hydro One’s Bay St. headquarters on Wednesday, Brown promised to slash executive salaries in the province’s hydro sector if the Tory’s take government in 2018.

Brown slammed the Liberals for rewarding electricity big-wigs with pay hikes as rates have tripled since 2003. He promised to use all the “legislative, regulatory policy and persuasive tools” at his disposal to reign in the wages and bonuses if elected.

“In short, it’s time to restore fairness to hydro executive pay,” Brown said. “It’s time to stop rewarding the people who are residing over the Wynne-Liberal hydro rip-off.”

Brown, who arrived onboard a bus with the Tory’s logo plastered on the side, took aim at the brass of Ontario Power Generation and Hydro One. Their pay is out of line with what comparable executives make in other provinces, he said.

“The people at the top make millions while the rest of us are left footing the bill,” Brown said. “The president of OPG makes over $1.1 million a year. The CEO of Hydro One makes $850,000 base salary but last year with bonuses he took home $4.5 million.”

“I guess it’s good work if you can get it but that’s the problem, you can’t,” he said. “While hundreds of thousands of people are terrified to open their hydro bill, hydro insiders are left pondering if they’re going to buy a new cottage or a new boat.”

Executive compensation in the hydro sector has been a controversial issue for months along with rising hydro rates and the deeply unpopular sale of Hydro One.

Opposition parties have complained that even though the government still owns most of Hydro One — 30% has been sold — executive salaries with the agency don’t appear on the Sunshine list because of its status as a private company.

Financial regulations do require Hydro One to disclose the salaries of its CEO, CFO and next three highest-paid executives.

Filings from the company in March showed CEO Mayo Schmidt was paid $4.5 million in 2016 — an $850,000 salary plus bonuses — and those top five executives were paid a total of about $11.7 million.

The Tories say they will not make any changes to non-executive compensation at either Hydro One or OPG and will honour all existing collective agreements.

Energy Minister Glenn Thibeault slammed Brown for using the electricity sector as a “political talking point” instead of offering his own plan to address hydro rates.

“We recognize that executive salaries are high compared to the vast majority of Ontario salaries, and we’ve introduced new regulations that require rigorous review of executive compensation frameworks,” he said in a statement to the Toronto Sun. “Our guidelines also create more stringent executive benefits, and we’ll continue to focus on ensuring that salaries are fair to the public purse.”

-with files from The Canadian Press.

sjeffords@postmedia.com

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Ontario Power Generation’s Highest Paid Executives in 2016

Jeff Lyash - President & CEO - $1,155,899.14

Glenn Jager - Nuclear President and Chief Nuclear Officer - $832,750.95

Dietmar Reiner - Senior VP, Nuclear Projects -$598,453.97

Thomas Mitchell - CEO Designate - $562,957.00

Mike Martelli - President Renewable Generation - $552,538.72