“Ontario is probably the worst electricity market in the world,” Pierre-Olivier Pineau, University of Montreal
Ontario’s auditor general just reported that the province paid an extra $37 billion for electricity from 2006-2014, likely the most ludicrous energy story that I’ve ever read (here). Ontario has gone from having some of the most affordable electricity in North America to having some of the most expensive. From 2013-2015 alone, industrial electricity rates increased 16%.
- The Green Energy Act (GEA) “is costing Ontario over $5 billion annually but yields negligible environmental benefits,“and the plan has been 10 times more costly per year than an alternative coal retrofit plan examined in 2005.
- The GEA priorities wind, even though wind power generation is almost perfectly out-of-synce with consumption in Ontario, resulting in the dumping of surplus wind energy into outside markets. “Electricity exports cost Ontario taxpayers $200 million in June.”
High Cost Electricity Puts Ontario’s Businesses at a Severe Disadvantage (data from AMPCO)