Tuesday, November 29, 2011

Did Ontario Energy Minster Bentley's statement Send Market Prices Crashing?

Statement from Ontario Minister of Energy Chris Bentley:

Within 16 hours of this statement from the Minister, the Hourly Ontario Energy Price (HOEP) had crashed  below $0, and we were paying over $100/MWh to any takers of our generation.
We are limited in our ability to export by interties, partially because of the Six Nations holdup of additional transmission - Bentley may not be aware of this - but in the previous cabinet he had dual roles as Minister of Aboriginal Affairs and Attorney General, so there's a possibility he might have heard something about it.
Or he may have devoted himself to a pet project fixing up Attawapiskat.   
I dunno.
I do know nuclear units 6 and 7 at Bruce B were once again dumping power (they are guaranteed a floor price regardless), and the reason is not hard to spot.
The reason for the price crash is also not hard to spot.  It isn't the Minister's statement - it's the deeply flawed policies the Minister is braying about.

No comments:

Post a Comment