Rubbish. It (forgoing dividends or reinvesting them) would be merely putting hydro on the same footing as water/sewer/garbage. Treating hydro as a merely financial entity misses the points made earlier about the effect hydro has on city projects, not to mention city expansions such as West Don Lands and Unilever on which so much future growth and revenue depends.
As an aside - Stintz' idea to part-sell Hydro was one of the reasons I considered her unfit to be mayor, since it demonstrated that she had not noticed that did not turn out well in Mississauga, with the 10% private tail wagging the 90% public dog.