For the Love of God how can we rid ourselves of this decrepit excuse of a Government?
Daily scandals, massive overspending on nothing, corruption running rampant in just about every association and organization even close to the Liberals and now we face astronomical energy prices just as winter starts to wrap it’s cold arms around our homes!
Industry is fleeing Ontario due to probably the highest prices for electricity in North America and we collectively are all experiencing the most massive outright energy poverty and hardship ever in this once functioning Province that was at one time the “engine that ran Canada”!
We can no longer tolerate one more single day of this Government and it’s insane energy pricing policy!
PLEASE, OPP or any other law enforcement agency…….hurry up…………..pepper the desks of these oligarchs with warrants for their arrests and save us from a fate worse than a DEPRESSION!
The Globe and Mail
Published Thursday, Sep. 12 2013
If you live in Ontario, deciphering your electricity bill is like trying to crack the encryption on a BlackBerry. It might tax even the professional snoopers at the U.S. National Security Agency.
It’s not as simple as multiplying the amount of power you use each month by the market price per kilowatt-hour. Beyond your “electricity” charge, there’s a “delivery” charge, a “regulatory” charge, a “debt retirement” charge and an Orwellian-sounding “clean energy benefit.”
And there’s a twisted political saga behind each one of them.
If you manage to unbundle it all, you’ll discover that the market value of the power you consume accounts for only a tiny portion of your bill. Most of the rest of what you fork out goes to pay for decades of bungled energy policy-making. And pay you will, for years to come.
Indeed, the most important charge is the one that doesn’t directly appear on most people’s monthly statements. It’s called the “global adjustment” fee and it’s tacked on to your electricity charge to cover the government’s cost of buying above-market-priced wind, solar, nuclear and gas-fired power from private operators. Oh, and part of it now goes to pay for those Toronto-area gas plants former premier Dalton McGuinty cancelled to win NIMBY votes in the 2011 election.
Ontario has managed to subvert the basic laws of supply and demand. Electricity has never been so abundant, yet Ontarians have never paid so much for it. Thousands of megawatts of new wind, solar and natural-gas generation has driven market prices to lows not seen in decades. But the cushy contracts awarded to wind and solar producers mean your monthly bill is going up.
So far this year, the average wholesale weighted price for electricity in Ontario has been about 2.8 cents per kwh. But the Independent Electricity System Operator estimates the global adjustment fee for September at a record 8.72 cents per kwh. That’s the equivalent of a 200-per-cent tax on the market value of the electricity most of us consume.
With the amount of wind and solar power projected to triple to more than 5,000 megawatts by the end of 2014, consumers can expect to pay even more. Ontario pays about 11.5 cents per kwh for wind power produced in the province – whether it’s needed or not. Then there’s the cost of upgrades to the grid to transport wind power produced in far-flung regions.
Why Ontario taxpayers are padding the bottom line of the big corporations behind most of these wind projects – including Toronto-based Brookfield, U.S. giant NextEra or oil-sands king Suncor – is beyond most of us. Brookfield’s latest financial report touts the company’s virtually risk-free business model, with 90 per cent of its hydro and wind power sold “under long-term, fixed-price contracts with creditworthy counterparties.” For Ontario taxpayers, the arrangement is anything but risk-free.