Talk about putting “lipstick on a pig”!
The original Smitherman/McGuinty agreement with Korea’s Samsung deal back in 2010 for 9.3 BILLION $$$ has been “scaled back” to now just a meagre 6 BILLION $$$ in view of the fact that the Green Energy Plan is a total failure bordering on FRAUD!
This Anti-Democratic edict called Bill 150 back in May of 2009 was the most disgusting Act ever passed in Ontario in it’s history.
Now with scandals finally catching up with this disgraceful gaggle of politicians inside what used to be a rather honourable institution, Queen’s Park, now looks more like a “conclave of criminals”, announcements such as the one below show just how desperate this present minority Government has become to hold onto the keys to the tax payers vault!
Guess what Chiarelli?……WE DON’T BELIEVE YOU ANYMORE!
Ontario Government and Korean Consortium Update Energy Agreement
The Ontario government is supporting job creation and protecting ratepayers by updating the province’s Green Energy Investment Agreement (GEIA) with the Korean Consortium, which includes Samsung C&T Corporation.
The 2010 GEIA has led to a number of significant investments in Ontario, including three new renewable energy manufacturing facilities. Six wind and solar projects are also underway, adding enough electricity each year to power approximately 260,000 homes.
Building on this success, the revised agreement will increase local control over renewable energy projects, create jobs and protect ratepayers by:
- Extending job commitments from 2015 to 2016. In addition, Samsung will build a fourth manufacturing facility in London by the end of this year, which is expected to create up to 200 additional manufacturing, and research and development jobs.
- Reducing the total commitment for renewable energy projects from 2,500 megawatts (MW) to 1,369 MW. This represents an estimated $3.7 billion reduction in contract cost, or about $24 per year for the average residential consumer. As part of Ontario’s review of the Long-Term Energy Plan, the province will consider how to best use those savings with a focus on conservation, keeping costs down for ratepayers, and a continued to commitment to renewable energy.
- Increasing local engagement for all future renewable energy projects under the revised agreement. The Korean Consortium will be required to obtain municipal council support resolutions for new renewable energy projects.
Protecting ratepayers and creating jobs is part of the new Ontario government’s plan to build strong communities, powered by clean, reliable energy.
- The four manufacturing plants in Toronto, Tillsonburg, London and Windsor are expected to create up to 900 direct jobs.
- Ontario’s Green Energy Act has attracted billions of dollars in private sector investments and created 31,000 jobs since 2009.
- Over the past ten years, Ontario has brought more than 3,300 MW of renewable energy online, enough to power over 900,000 homes each year.
- By August 2014, the Independent Electricity System Operator is expecting more than 3,200 MW of additional renewable capacity to be connected to the grid — enough to power about 980,000 homes each year.
- Ontario is phasing out coal-fired generation, which made up less than three per cent of the province’s power generation in 2012 — down from 25 per cent in 2003.
There’s no question that our partnership with Samsung has helped create a thriving clean energy industry in Ontario. With this updated agreement, we’ll continue to create good jobs, while maintaining Ontario’s commitment to clean, renewable energy.”
Minister of Energy
As a globally responsible company, Samsung believes in Ontario’s renewable energy potential. Beyond the environmental and health benefits, Samsung has already created hundreds of jobs for Ontarians with more planned for the future. We are proud that, as promised, and thanks to government support, we have brought world leading manufacturers to Ontario. We have taken the necessary time to engage with our project communities, resulting in tens of millions of dollars of support for their identified community needs. Moving forward we will continue to work within the government’s new process to fulfill our amended agreement.”
Mr. Ki-Jung Kim
Executive Vice President, Samsung C&T Corporation
Craig Pearson Jun 20, 2013
In fact, WindsorEssex Economic Development Corporation CEO Sandra Pupatello — the minister of Economic Development and Trade when the Samsung deal was struck — thinks reducing the mega-deal could end up benefiting CS Wind since it might mean fewer competitors building wind turbine towers down the line.
“It’s a good day,” Pupatello said after hearing the announcement. “CS Wind is so busy right now, not from Samsung but from everybody else. I’m feeling very confident that if there were a second or third tower company planned, those might not materialize any more, which gives a little more exclusivity to CS Wind.”
Pupatello said the idea from the beginning was always to have CS Wind supply towers across North America, not just to Samsung.
The provincial government announced Thursday that the province’s commitment to buy power from the Korean manufacturing giant will be reduced by $3.7 billion, over about 20 years. Ontario will now spend $6 billion to buy energy from Samsung, instead of $9.7 billion.
“Hindsight makes the government a lot smarter,” Pupatello said. “What is really good news is this energy minister understands the alignment required between transmission, generation and price.”
Wind and solar energy typically costs more than traditional types of energy, such as oil and gas, but it is considered better for the environment.
“There’s no question that our partnership with Samsung has helped create a thriving clean energy industry in Ontario,” Energy Minister Bob Chiarelli said in a news release. “With this updated agreement, we’ll continue to create good jobs, while maintaining Ontario’s commitment to clean, renewable energy.”