Financial 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
“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.
This pair has no difficulty in breathing and swallowing;
…..after approximately 30 secret telephone conversions –
they are both fluent – in German and Russian.
Independent: Merkel and Putin discussed secret deal could end Ukraine crisis
http://www.kyivpost.com/content/ukraine-abroad/independent-merkel-and-putin-discussed-secret-deal-could-end-ukraine-crisis-358755.html
Heavy lifting – but – no thuggery!
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!
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.
Barbara and Free Thinker, You have both assessed our situation very well. God help us all!
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.
BlueGreen Alliance, U.S.
Board of Directors includes:
Leo W. Gerard, Co-Chair, and International Pres., United Steel Workers/USW
Michael Brune, Co-Chair., and Sierra Club, U.S.
Larry Cohen, also Pres. Communication Workers of America, CWA
D. Michael Langford, also Nat. Pres. of Utility Workers Union of America
Dennis Williams, also Pres. UAW
http://www.bluegreenalliance.org/about
Southern Alliance for Clean Energy/SACE
Stephen Smith, DVM, Executive Director
DVM/Doctor of Veterinary Medicine
http://www.cleanenergy.org/stephen-smith
Just an interesting bit of information.
Lazard Freres & Co. LLC, New York City, is a subsidiary of Lazard Group LLC, NYC, which in turn is a subsidiary of Lazard Ltd, Hamilton, Bermuda.
Lazard Asset Management LLC & its subsidiaries (LAM) one of which has a Toronto,ON office.
Lazard Ltd, Hamilton, Bermuda, founded 1848
http://investing.businessweek.com/research/stocks/snapshot/snapshot.asp?ticker=LAZ
UPDATE: Pattern Energy Group, San Francisco, CA
New board of directors includes:
Alan Batkin, The vitality Group
Michael Huffman, Riverstone Holdings LLC
Edmund Browne, Riverstone Holdings LLC
http://investing.businessweek.com/research/stocks/people/board.asp?ticker=PEGI
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, Pattern Energy Group,Inc. For year ended Dec.31, 2013 and filed Feb.28,2014
http://www.sec.gov/Archives/edgar/data/1561660/000119312514077630/d658458d10k.htm
Scroll down to near page bottom to: Section S, South Kent Wind LP Financial Statements, Pages S-6 to S-25.
Also other information on Pattern & Samsung in this 10-K Document. the whole document should be read.
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
Canada Pension Plan
CPPIB
Investments include:
US $200 million to Riverstone IV in 2008
US $400 million to Riverstone V in 2012
These are Riverstone Funds
http://www.cppib.com/en/what-we-do/private-investments-overview/funds-secondaries-co-investments/our-partners.html
This about the third time this information has been posted at OWR in the past couple of years.
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.
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.
Correction:
http://www.sec.gov/Archives/edgar/data/1603145/000119312514248698/d696235ds1a.htm
U.S.SEC Form 10-K, for NextEra Energy, Dec.31,2010 and filed Feb.28,2011
http://www.sec.gov/Archives/edgar/data/37634/000075330811000025/form10k123110.htm
P.16: Nextera is involved in several climate change initiatives including:
Participation in the U.S. Climate Action Partnership
Participation in the Clinton Global Initiative
Supporting Edison Electric Institute’s climate change framework
P.47 Chart includes:
Dec.,2010, NextEra Energy Resources subsidiary, Canadian revolving credit facility.
United States Climate Action Partnership/USCAP
Includes:
AES
Center for Climate and Energy Matters
Chrysler
Dow Chemical
G.E.
Natural Resources Defense Council
NextEra Energy
PepsiCo
Siemens Corp.
The Nature Conservancy
World Resources Institute
http://www.us-cap.org
Follow the links
Edison Electric Institute/EEI
International Affiliates include:
Brookfield Power
Capital Power Corp.
Emera Inc.
Fortis Ontario, Fort Erie
Hydro One
OPG
TransAlta
http://www.eei.org/about/members/internationalaffiliates/Pages/interaffiliatelist.aspx
NextEra Energy Inc., SEC Form 10-K for year ended Dec.31, 2013 and filed Feb.24, 2014
P.57 NEER/ NextEra Energy Resources, LLC
“Additionally, a NEER subsidiary has five variable rate Canadian revolving credit agreements with original capacity totaling C$750 million and expiration dates ranging from October 2014 to 2016. These facilities are available for general corporate purposes; however, the current intent is to use these facilities for the purchase, development, construction and/or operations of Canadian renewable generating assets.”
http://www.sec.gov/Archives/edgar/data/37634/000075330814000025/nee-12312013x10k.htm
Follow the money!
NextEra Energy, SEC Form 10-K for year ended Dec.31, 2011 & filed Feb.28,2012
P. 4. NEE organizational chart.
P. 54 Canadian bank revolving credit agreements original amount, C$300 million
http://www.sec.gov/Archives/edgar/data/37634/000075330812000025/nee-12312011x10k.htm
NextEra Energy, SEC Form 10-K for year ended Dec.31, 2012 & filed Feb.28, 2013
P. 25 “NEER depends heavily on government polices that support renewable energy and embrace the economic feasibility of developing and operating wind and solar projects …”
http://www.sec.gov/Archives/edgar/data/37634/000075330813000023/nee-12312012x10k.htm
Many SEC documents for NextEra Energy online.
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
Correction
http://www.sec.gov/Archives/edgar/data/1174169/000119312513133176/d481417dex991.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.
Integrity – a prominent topic of discussion
Welcome
Encouraging a culture of integrity
http://www.oico.on.ca/
p.s. yeah
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”.
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.’
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.
U.S. SEC Records for: NextEra Energy
http://www.sec.gov/cgi-bin/browse-edgar?company=NextEra+Energy&owner=exclude&action=getcompany
Records:
NextEra Energy Capital Holdings Inc.
NexEra Energy Inc.
NextEra Energy Partners,LP
Click on the RED numbers for each company > Records page and select the records you want to read. Like a 10-K report for example.
__________________________________________________
U.S. SEC Records for Algonquin
http://www.sec.gov/cgi-bin/browse-edgar?company=Algonquin&owner=exclude&action=getcompany
Record:
Algonquin Power & Utilities Corp.
Click on the RED numbers for this page > Then select the document you want to read. For example Form F-40 for Mar.28,2014. An F document is for foreign companies reporting to the SEC.
All on one OWR page for convenience of use.
Ontario Securities Commission/OSC
http://www.osc.gov.on.ca/en/Investors_Disclosure-requirements_index.htm
Scroll down to:
OSC’s Reporting Issuers List which is a PDF
SEDAR- follow the link to:
http://www.sedar.com > follow the links > search data base > company profiles.
Most SEDAR records are PDFs
Algonquin Power & Utilities
Pattern Energy
Hey Barbara,
The only thrill would be – if something was not in order.
We know the SEC was experiencing computer problems at some point –
we still don’t know if they are on the ball.
Has anyone committed a crime?
Wouldn’t that be the whole point?
Of course – it’s Ontario – and, open for business!
These records are the kinds of information that CAs and CPAs look at for all kinds of company information.
http://patch.com/massachusetts/falmouth/historic-corruption-trial-massachusetts#.U_KcP0uZMRW
The information about the C$750 M NextEra revolving credit arrangements with Canadian banks came form an SEC document.
The agreement that Pattern has with Samsung at South Kent is also in an SEC document.
Where else can information like this be found?
The U.S. SEC has much more stringent financial reporting requirements than Ontario has.
Ever heard of – “The Globe and Test Mail”?
Did you think – it’s the standard of care – for a police officer?
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.