Achtung, Ontario! Renewables are a money pit

2014_06010035Financial Post, Brady Yauch
Germany, the model for Ontario’s wind and solar developments, now regrets its spending spree
Germany – the country on which Ontario modelled its approach to renewable energy development – has a $412-billion lesson for Ontario. That’s the amount the country has spent on subsidies in support of solar and wind energy, among other renewables, over the past 20 years, all in the push to wean the country off fossil fuel and nuclear generation.

On the surface – and according to many news sites – the program has been a success, and not just because of the 378,000 people renewables now employ.

By the end of 2012 (the most recent year for data), wind and solar provided about 13% of all German electricity consumption. Adding in hydro and biomass, renewables provided more than 23%. And in May, headline writers around the world proudly trumpeted that renewable energy provided 75% of the country’s total electricity consumption.

But scratch a bit below the surface and an entirely different picture emerges – one with households being pushed into “energy poverty” as renewable subsidies lead to soaring power bills, handouts to the country’s big businesses and exporters so they can avoid paying for those subsidies and a systematic bankrupting of traditional utilities. As for that one day in May when headlines celebrated that 75% of power generation came from renewables, well, it was a Sunday when demand for power is at its lowest level. Read article

49 thoughts on “Achtung, Ontario! Renewables are a money pit

  1. “Money pit” ? Doesn’t everyone know that wind and solar are investment opportunities?

    One 1,000 MW gas fired power plant is not an investment but the 1,200 IWTs needed to replace the gas fired plant are investment opportunities!

    • Building a 1,000 MW gas fired power plant for the Ontario government only provides the builder with a profit for building the power plant while installing 1,200 IWTs provides private investors and the private developers with money. And some landowners too.

      Private renewable energy projects are” investment opportunities” and this is what is taking place in Ontario.

    • To be – an ACCOUNTANT

      SPENDING days
      THINKING
      about MONEY
      in NUMBERS,

      and, its ACCOUNTING.

      And, it’s FRAUD.
      And – it STINKS!
      “REAL BAD”!

      To be – FICTITIOUS

      • Accountants are educated not only to keep books but to make financial decisions.

        They help plenty of people to make good financial decisions and people trust their accountants as much as they trust their doctors for advice.

  2. Have you heard of the term –
    basic climate change concern?

    The growing effort!

    Funds must follow ministry name change, says OFA

    Ontario Throne Speech | Government ministry to include ‘climate change’ in its name

    ‘[excerpt] DRESDEN, Ontario — Farm organizations say a recent commitment made by the Ontario Liberal government to addressing climate change is a good first step.


    In its recent Throne Speech, the provincial government announced that its environmental ministry will now be known as the Ministry of Environment and Climate Change.


    “You have to accept what the scientific community has to say on it and the farmers are on the front lines of this,” said Lorne Small of the Christian Farmers Federation of Ontario.


    “Farmers need to be on top of that issue. It is affecting us,” said Karen Eatwell of the National Farmers Union.


    Mark Wales of the Ontario Federation of Agriculture said he recognizes climate change as a major concern, but is unsure of how effective the government’s response will be.


    “It sounds nice, the name of the new ministry, but what does it really mean and where is the budget to deal with things,” Wales said.


    “Farmers are going to bear the brunt of climate change immediately. I’ve got farming friends in Manitoba where they’re about to breech the dike and flood their farms.”


    Wales, who serves as a township councillor in Elgin County in addition to his role with the OFA, said many Ontario municipalities are looking at ways to mitigate climate change impacts.’
    http://www.producer.com/2014/07/funds-must-follow-ministry-name-change-says-ofa/

    Farmers in combat gear – and, ready!
    Again – ‘[excerpt] Funds must follow ministry name change, says OFA’

    • Wales – the realist

      ‘[excerpt] “It sounds nice, the name of the new ministry, but what does it really mean and where is the budget to deal with things,” Wales said.
’

      Everyday we learn a little something!
      What is it about today?

    • So it seems the major farm organizations are now under the “spell” of environmental groups.

      The NFU in the States sure is involved in climate change business.

      Rural Ontarians need to come together and decide just what their options are in this present IWT situation.

      And it is a big help to know where the various farm organizations stand on the IWT issues. Otherwise rural Ontarians are going to have to bear the brunt of this whole IWT fiasco.

    • Farmers a critical tool!

      How do you get a handle on ‘scientific shills’;
      Ontario’s farming community –
      a little over the top?

      ‘[excerpt] In its recent Throne Speech, the provincial government announced that its environmental ministry will now be known as the Ministry of Environment and Climate Change.


      “You have to accept what the scientific community has to say on it and the farmers are on the front lines of this,” said Lorne Small of the Christian Farmers Federation of Ontario.


      “Farmers need to be on top of that issue. It is affecting us,” said Karen Eatwell of the National Farmers Union.
’

      Who is in charge?
      Why are they ignoring –
      the Supreme Court’s ruling on – Climate Change?

      The world is watching!

  3. Ontario farmers should be ashamed.
    They live in a free nation.
    They sign private contracts –
    with energy corporations that ‘gag’ them –
    thinking – they will be getting easy money.
    Little thought is given – as to how – their actions
    effect others.
    Farmers sold out!

    Look at the big picture!

    Ukrainian Singer Ruslana Moves a Washington Crowd
    Her Chances of Moving Policy or Preventing a War Are Less Clear
    http://www.atlanticcouncil.org/blogs/new-atlanticist/ukrainian-singer-ruslana-moves-a-washington-crowd

    God Bless Ukraine!
    God Bless Israel!
    God Bless the Christians in Iraq – begging – while dying on a mountain.

    God Bless Ontario!

    • The problem may go back to when landowners signed the IWT options without consulting a lawyer as to what they were signing.

      Once the option was signed then in most cases the landowner lost control when the options were exercised/called in by the IWT developers and lease contracts then had to be signed by the landowners like it or not.

  4. Barbara and Free Thinker, You have both assessed our situation very well. God help us all!

  5. Times Freepress, Tennessee, Aug 12, 2014

    The Tennessee Valley Authority/TVA created May 1933 by congressional charter. Federal Utility.

    “TVAs staff has suggested that TVA again turn to natural gas to replace the Allen Steam Plant because gas-fired generation would be cleaner than coal and cheaper than wind or solar generation.”

    “But environmentalists want TVA to slow down before building another gas plant because natural gas prices are now very favorable.”

    Parties involved in TVA situation:

    Southern Alliance for Clean Energy

    Clean Energy Partners, Houston, DC transmission link to carry clean power from Oklahoma & Texas a $2 billion total project with TVA part of this.

    Sierra Club, Tennessee, wants TVA to buy more locally produced wind & solar as well as conservation.

    Lazard Freres & Co., LLC ,consulting firm that says that wind generation could drop to $23 per megawatthour with continued federal production credits. Subsidies.

    http://www.timesfreepress.com/news/2014/aug/12/tvas-power-shift-spurs-debate-over-wind

    Can compare Ontario government owned power generation situation with government owned TVA situation.

    • U.S. Securities and Exchange Commission/SEC

      Pattern Energy Group:
      Form 10-K for year ended Dec.31, 2013 and filed Feb.28,2014

      http://www.sec.gov/edgar/searchedgar/companysearch.html
      Enter: Pattern Energy Group and follow the links to the 10-K Report

      Pages: 53-55, p.63, p.66 and page F18

      Section S at end of this report has the South Kent Wind LP information.
      Pages S6-S25.

      Also has a diagram of the structure of Pattern Energy Group.

      Company Registered at:
      NASDAQ Global Market
      Toronto Stock Exchange

      More than 100 pages of information including Pattern Energy and Samsung.

      There is no direct link to this report. Just follow the links. There are several other types of SEC documents available when you get to the Reports page.

      • Correction: Should be Michael Hoffman, Riverstone Holdings LLC

        Pattern Energy Group Inc. Board Member:
        Patricia Newson for Canadian connections.

        If the above link to search Edgar doesn’t work then use:
        http://www.sec.gov and use the link in the blue box on the right sidebar “Search Edgar”.

        Both the SEDAR (Canadian) and EDGAR (U.S.) financial records should be looked at.

        A C.A. could be retained to sort out the financial information so this can be understood by everyone.

      • SEC Form 10-K/A, Amended filed May 5, 2014, Pattern Energy

        P. 35 Turbine Availability Warranties

        “The Company has various turbine availability warranties from the turbine manufacturers. Pursuant to these warranties, if a turbine operates at less than minimum availability during the warranty period, the turbine manufacturer is obligated to pay as liquidated damages a fee for each percent the turbine operates below the minimum availability threshold. In addition, also pursuant to certain of these warranties, if a turbine operates at more than expected availability during the warranty period, the Company has an obligation to pay a bonus to the turbine manufacturer.”

        http://www.sec.gov/Archives/edgar/data/1561660/000119312514181029/d719129d10ka.htm

    • SEC Form S-1 Amendment No.1 Filed May 5, 2014
      Registration Statement: Pattern Energy Group, Inc., San Francisco, CA
      http://www.sec.gov/Archives/edgar/data/1561660/000119312514182454/d715360ds1a.htm

      P. 11, Diagram of ownership structure

      P. 32, Certain of our executive officers have an economic interest in Pattern Development.

      P. 41, Decommissioning of aging coal-fired and nuclear facilities is expected to leave a gap in electricity supply.

      “the emergence of ‘yieldcos’ has provided a new class of investors with an appetite for investments in contract-based renewable power projects.”

      P.66, “In Canada, provincial governments have jurisdiction over their intra-provincial electricity markets and the federal government has jurisdiction over inter-provincial and international.”

      P.95, South Kent project is located on about 165 distinct private land parcels. Agreements for not less than 40 years.

      P.96 Grand, Haldimand Co., under construction

      P.108, Shares beneficially owned by the officers:
      Patteren Renewables LP, 62.95%
      Wellington Management Co.,LLP, 5.24%
      Patricia Newson, 9,878 Class A shares owned
      Michael Garland, 181,308 Class A shares & 44,403 Class B shares

      Much more information in this document.

      • Photos have already been taken of Ontario construction and other documents have been gathered. Add the U.S. SEC information and Ocotillo information and quite a file will be available to present to people.

  6. UPDATE: NextEra Energy Partners, June 25, 2014
    U.S.SEC Registration Statement, Form S-1 Amendment No.5
    http://www.sec.gov/Archives/edgar/data/1603145/0001193125142486981d696235ds1a.htm

    P.iii, Canadian projects listed.
    P. 142,143-147 Project information
    P. 150 Toxic & Hazardous Substances
    P. 151 Insurance, Safety & Maint.
    P. 170 Canadian O & M Agreements
    P. 174 ASA with NEEC Canada
    P.177-178, Term & Termination of Projects
    P. 222-223, Canadian Project Financing Arrangements

    This report is more than 200 + pages and has the new information for NextEra in Canada and the U.S.
    Michigan can download if needed.

  7. U.S.SEC

    Algonquin Power & Utilities Corp. Annual Information Form
    March 28,2013
    Exhibit 99.1

    P.15
    On Jan 14, 2011 APCo received commitments from a syndicate of Canadian Banks for $142 million credit facility with a 3 year term.

    P.99-103, Section 8.1
    Name Occupation and Security Holdings:
    Ian E. Robertson, CEO, 427,905 shares owned
    Christopher Jarrett, Vice Chair., 410,309 shares owned

    http://www.sec.gov/Archives/edgar/data/1174169/000119312513133176/d48141dex991.htm

      • Is this information that should be forwarded to the Office of the Integrity Commissioner? Are you following the investigation they are currently doing?

      • Really – how many people applied – and, who got the job?

        The Office of the Integrity Commissioner is seeking a judicious and tactful lawyer to provide legal advice and support services to the Integrity Commissioner and staff members of the Office of the Integrity Commissioner in relation to all aspects of the Integrity Commissioner’s jurisdiction, which include: MPP Integrity, Lobbyists Registration, Expenses Review, Ministers’ Staff Ethical Conduct and Political Activity, and Disclosure of Wrongdoing.

        Your demonstrated skills of neutrality and independence will be called on as you critically review materials and determine the issues to be considered. In addition, you will identify emerging issues and trends, recommend policy and prepare legal research in support of policy development.

        In this unique and challenging opportunity you will also be responsible for the day-to-day management of the disclosure of wrongdoing jurisdiction. You will plan, manage and oversee timely, accurate and efficient review of disclosures of wrongdoing received in accordance with Part VI of the Public Service of Ontario Act, 2006 and will perform and oversee investigations.

        To be considered for the position, you will have an LLB and be a member in good standing with the Law Society of Upper Canada. You will be expected to provide legal knowledge and expertise gained with a minimum of 5 years related experience in administrative law and/or regulatory investigations. In addition, your expertise in conducting complex, sensitive investigations and the development of intake and investigation procedures will contribute to your success in this role.

        File No: LA-2014-27

        Closing Date: July 11, 2014

        http://ca.linkedin.com/jobs2/view/10997541

      • Sommer, Am not following the present investigation.

        Read the information and use your best judgement as where this may fit in. Canadian SEDAR records should be downloaded and compared to the U.S. SEC records

        In the meantime download this information and use it to PILE ON along with already gathered information and photos.

      • The Office of the Integrity Commissioner
        Is it – the latest in – “The Run-around”?

        ‘Some office’ – is “investigating” –
        it’s a convenient excuse!
        for the police – to not – “get involved”.

  8. Handling the situation – properly
    The strategy –
    to observe and learn;
    but, no tension or leadership –
    is the pride and joy!

    Integrity Commissioner Q & As
    The following questions and answers include sample questions to other Integrity Commissioners in Ontario.

    What are the Commissioner’s main duties?
    All elected public officials are subject to a Code of Conduct. The mandate of the Integrity Commissioner is to ensure that this code of behaviour and ethics governing elected officials is objectively applied. Duties of the Integrity Commissioner include conducting inquiries into requests made by a member of the public, Council, or a Member of Council, into whether or not a Member of Council has contravened the Code of Conduct. The Integrity Commissioner will be reviewing the current Code of Conduct for Members of Council.

    What is the extent of the Integrity Commissioner’s authority?
    Council has adopted a Complaint Protocol (click here to view) that sets out the scope of the Integrity Commissioner’s authority over matters addressed by the Code of Conduct. The Protocol describes several types of complaints that would be covered by existing legislation or mechanisms. For example, an allegation that may involve a contravention of the Criminal Code of Canada is a police matter, and would not be investigated by the Integrity Commissioner. Likewise, the Integrity Commissioner would not consider a complaint of alleged conflict of interest involving a Member of Council as a remedy is provided under the Municipal Conflict of Interest Act. Contact the Integrity Commissioner to determine if the matter is a Code of Conduct violation.
    https://www.vaughan.ca/cityhall/integrity_commissioner/Pages/Integrity-Commissioner—Q-and-As.aspx

    Ontario – a hidden treasure of stars

    • Thanks!
      ‘[excerpt] For example, an allegation that may involve a contravention of the Criminal Code of Canada is a police matter, and would not be investigated by the Integrity Commissioner. Likewise, the Integrity Commissioner would not consider a complaint of alleged conflict of interest involving a Member of Council as a remedy is provided under the Municipal Conflict of Interest Act.’

  9. U.S. SEC Records for Pattern Energy:

    http://www.sec.gov/cgi-bin/browse-edgar?company=Pattern+energy+group&owner=exclude&action=getcompany

    Pattern Energy Group Holdings GP LLC, NY
    Pattern Energy Group Holdings LP, CA
    Pattern Energy Group Inc., CA
    Pattern Energy Group LP, NY

    The main group of records for this company is at:
    Pattern Energy Group Inc, CA

    Click on the RED numbers on the left side to access the records.
    This way you don’t need to download the records. Just use the links anytime.

  10. Ever heard of – “The Globe and Test Mail”?
    Did you think – it’s the standard of care – for a police officer?

  11. As long as the MSM and promoters of IWTs can keep up the ruse that IWTs are good Ontario investments this will go on.

    If the perception can be changed to Ontario is a bad place for renewable investments the flow of money will stop.

    But there is a MSM and financial press that won’t publish anything negative about IWT investments in Ontario.

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