Wednesday, April 4, 2012

Ontario’s Power Trip: The great electricity bill cover-up

"Ontarians will pay $319 more per year for green energy soon — despite government denials"
The latest article in the Financial Posts's "Ontario's Power Trip" series (which I've shared writing credits on a couple of times) is by Bruce Sharp.  In my opinion, Bruce has the best record of forecasting pricing in Ontario.

Ontario’s Power Trip: The great electricity bill cover-up | FP Comment | Financial Post:
"The Ontario green-energy ship is taking on water and yet one would never know it from how the captain is talking. On March 22, the provincial government announced the results of its highly anticipated feed-in tariff (FIT) review and the message from the bridge was “Everything’s fine … stay the course.”
In supporting this message, the current captain/Minister of Energy Chris Bentley made reference to how green energy accounts for only about 5% of the increase in electricity bills. The problem with such a statement is it begs many questions, including 5% of what, and over what period?
A recent electricity price-increase forecast for 2012-16, filed with the Ontario Energy Board, helpfully provides answers, with wind and solar energy forecast to directly add $3.05-billion to annual provincial energy bills. "

Read the entire article at the Financial Post site

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