Wind, solar contracts could cost Ontarians $58 billion, resident says

throw money ladder windBy Valerie MacDonald, Northumberland Today
BALTIMORE – The Ontario government’s 20-year contracts for wind and solar power under the Ontario Green Energy Act will cost Ontarians $58 billion more than it should for green power, says Hamilton Township resident Stuart Henry, a retired security chief administrative officer. This will add $600 to the amount people will pay on their electric bills each year for the next two decades, he says.

“Over 20 years, Ontario residents will pay $58 billion more for the purchase of an identical amount of green energy than the New England states who buy green energy hydro power from Quebec at the real market rate of 8.1 cents per kilowatt-hour,” Henry states in a summary of his financial analysis.

Henry is so concerned at the financial provisions of the provincial Green Energy Act and the consequences to Ontario’s industrial sector, and its residents, that he has contacted the Ontario Auditor General and is urging others to do the same.

Now is the time Ontario should be making a long-term deal with Quebec when that province has an abundance of hydro and the best terms can be struck, Henry asserts. Read article

5 thoughts on “Wind, solar contracts could cost Ontarians $58 billion, resident says

  1. Well maybe if he multiplied that number by three or four…

    I think that Samsung alone could well cost us $20B and that is now a small part of the deal.

    As for Solar Power — how did he get “Secret Numbers”? I can’t find the Solar Power aggregate numbers anywhere — and I have looked — it would be nice to have them. It would motivate me to re-issue an updated paper on Green Energy and Wind — I could add Solar Power. Yes I do know where to find the bragging sites for a certain manufacturer — but that set of numbers is a drop in the bucket of wasted cash.

    Any thoughts on the source of his numbers?

  2. BTW — the capital costs alone have already far exceeded that number as wind power and Solar require 100% (i.e. watt for watt) duplication of resources…

    See here:
    http://ontariowindperformance.wordpress.com/2010/09/24/chapter-3-1-powering-ontario/

    Wind cuts out entirely or to less than 1% on many occasions and here in Southern Canada the Sun don’t shine at night…

    Just the Oakville non-generation station alone has at least a $230M to $1B cost — and no power as of yet… so much for the $58B number.

  3. Ontario – open for business

    ‘[excerpt] Not only does Henry say he and a lawyer met with the Ontario Power Authority (OPA) in 2010 to get more clarification about the Green Energy Act contracts that would be made with companies and individuals, but within the past month or so he has contacted Ontario Auditor General Jim McCarter. He has provided his rationale and financial figures about how Ontario’s debt will grow and how it will affect Ontario’s financial rating.

    As of the end of 2012, the Ontario government debt was $273.5 billion. Henry’s estimated $58 billion more from green-energy contracts is a significant addition.

    “That’s why the Attorney General should initiate an inquiry to find out how this occurred; what was the approval process all the way through,” he said during an interview this week.’

    McGuinty Liberal – economic ‘hell hole’
    Wynne talking to teachers!

  4. The cost of renewable energy and whether or not renewable enegy works or not in irrelevent. All that matters is the money to be made from renewable energy by fat-cats and all those down the line who will feed off from this scam.

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