Ontario has elected a new Provincial Government and what lies ahead for the energy sector is sure to be an interesting play of policy decisions based on election promises and market realities. Many opinions are being expressed as to what if will mean for contracts for renewable energy projects , including those powered by wind.
The link below outlines an analysis of what may lay ahead.
PC Party Election Platform on Energy
Premier Doug Ford ran and won on a platform labeled For the People: A Plan for Ontario. The platform set out Ford’s energy plan, in its entirety, as follows:
- Clean up the Hydro Mess and fire the board of Hydro One and its $6-million-dollar CEO. Our first act will be to end the Liberal practice of making millionaires from your hydro bills!
- Stop sweetheart deals by scrapping the Green Energy Act.
- Cut hydro rates by 12% for families, farmers, and small businesses by:
- Returning Hydro One dividend payments to families.
- Stopping the Liberal practice of burying the price tag for conservation programs in your hydro bills and instead pay for these programs out of general government revenue.
- Cancel energy contracts that are in the pre-construction phase and re-negotiate other energy contracts.
- Declare a moratorium on new energy contracts.
- Eliminate enormous salaries at Ontario Power Generation and Hydro One.
- Stabilize industrial hydro rates through a package of aggressive reforms.
What this will cost:
Hydro One Dividend – $300-$400 million per year.
Moving Conservation Programs to Tax Base – $433 million per year.