Another day and another report says Ontario’s reckless experiment with wind and solar power has been a financial disaster for the province’s taxpayers and ratepayers. This time it’s the Fraser Institute, coming to many of the same conclusions the Auditor General of Ontario did in late 2011.
This time, energy analyst Tom Adams and University of Guelph economist Ross McKitrick in their report, What Goes Up, argue the Dalton McGuinty/Kathleen Wynne blunder into green energy is hurting consumers, making the province less competitive and benefitting industry insiders. It has created the absurd situation in which Ontario has an energy surplus, while energy prices skyrocket.
As Adams puts it: “Wind and solar power systems provide less than 4% of Ontario’s power but account for 20% of the cost paid by Ontarians, yet the government wants to triple the number of wind and solar generators. That’s a good deal for wind and solar producers but a raw deal for consumers.” Read article