Article content continued

OPG landed on a maximum salary of $3.8 million for its CEO — who currently earns $1.5 million — though it says it is setting the target significantly lower.

Spokesman Neal Kelly says the CEO’s salary will actually remain unchanged for three years, but the other approximately 80 executives will now be eligible for merit pay, and when the new program is fully implemented in 2019, that’s expected to cost an extra $6 million to $8 million annually. Kelly said OPG has saved $10 million in staff reductions since 2012.

OPG, which operates two nuclear sites, was granted permission by the government to use private-sector comparators, as the size and scope of its operations are “more complex than those of many other public sector organizations in Canada” and it has primarily recruited its executives from the private sector.

A spokesman for Energy Minister Glenn Thibeault said the safe operation of Ontario’s large nuclear generating stations requires “technical experts of the highest standard.”

“We fundamentally believe Ontario Power Generation must be able attract and retain this highly specialized expert talent to ensure the safety of Ontario’s nuclear power generation system and deliver key nuclear projects such as the Darlington Refurbishment,” Dan Moulton said in a statement.

OPG is responsible for more than $40 billion in assets, and has $5 billion in annual revenue and more than 9,000 employees.

NDP finance critic John Vanthof called it a “slap in the face” to Ontario families that a CEO of OPG could be eligible for a salary of up to $3.8 million.