Peter Epp, Sarnia Observer
Given the Ontario government’s management of its energy assets over the past 10 years, nobody should be surprised with the announcement that electricity rates will be rising by 42% over the next five years.
The Liberals are in the process of closing its coal-fired electricity plants – plants that burned one of the cheapest fuels available – while using the authority of the Green Energy Act to permit the rapid development of wind and solar projects. The energy produced by these projects are environmentally sustainable and benign, but their owners/operators are paid large sums of money by the Ontario Power Authority… large sums when compared to the cost of burning coal.
And here’s something equally troubling. The electricity generated by wind turbines is actually quite small – an estimated two-tenths of 1% of Ontario’s power. Given the miniscule amount of electricity generated by wind turbines, and the high cost associated with its generation, it’s not surprising to learn that Ontario’s green energy projects actually cost $1.2 billion more than the value of electricity they generated in 2012. Wind turbines might be an environmental asset to the province, but from a financial perspective they continue to be a liability.
With that type of situation it’s not difficult to understand that something has to give, and that something is the cost of electricity. It’s going up. And, to borrow a phrase from the Friendly (and possibly the Green) Giant, it’s going waaaay up. Read article