Rest of World rips up their renewable energy contracts while Ontario aggressively “forges ahead” to destroy Ontario!

Posted: March 19, 2014 in Uncategorized

One would think that a bloated Government with employees sitting around all day looking for buzz words and Strategy group’s one liners for their leadership to use in their propaganda driven daily announcements leading up to an election might just glance at a story or two which could “inform” their leaders about what’s going on outside their hallowed walls of power!

Not so at Queen’s Park. It’s obvious that even in their  favourite mainstream “news feeds” they didn’t “pick up” this little ditty of bad news.

I assume if someone lives in a world void of reality then one can “expect” a non realistic view of the world and anything that they do or commit to will be surreal or even insane.

That is where we are today with Ontario’s minority Government. They committed Ontarians to an anti-democratic, destructive and corrupt act with the passage of the Green Energy Act in May of 2009 and the old adage, “in for a penny……….in for a pound”, takes on a whole new meaning.

As if there has to be much more proof Ontario is in deep trouble!

Governments rip up renewable contracts

Brady Yauch, Special to Financial Post | March 18, 2014

Europe’s renewable energy investors are facing a harsh reality – that the promises from politicians can be taken away at any moment. Canada’s renewable energy investors may soon face that same reality.

Europe’s renewable energy investors are facing a harsh reality – that the promises from politicians can be taken away at any moment. Canada’s renewable energy investors may soon face that same reality. Postmedia News

Companies ‘do not have a right [to expect the compensation] not to be changed’

Governments across Europe, regretting the over-generous deals doled out to the renewable energy sector, have begun reneging on them. To slow ruinous power bills hikes, governments are unilaterally rewriting contracts and clawing back unseemly profits.

In Italy, one of Europe’s largest economies and one that lavished billions in subsidies on the renewable sector, the government in 2013 applied its so-called “Robin Hood tax” to renewable energy producers. Under the new rule, renewable energy producers with more than €3 million in revenue and income greater than €300,000 must now pay a tax of 10.5%.

That follows a 2012 move to charge all solar producers a five cent tax per kilowatt hour on all self-consumed energy. The government also told solar producers that it would stop taking their power – and would offer no compensation – when their output overwhelms the system.

The result of these and other changes, says the solar industry, has been a surge in bankruptcies and a massive decrease in solar investment.

In Belgium – where both regional and federal bodies hand out renewable subsidies – a number of retroactive changes have capped the largesse renewable producers once received. In one region the price for “green certificates” – which producers received for renewable energy – was slashed by 79%. The government original committed to buy green certificates at a benchmarked price for 20 years, then cut it to 10 years.

Belgium’s regulators tried to impose a fee on all energy added to the grid from small- to medium-sized solar producers. While the country’s court of appeals struck down that fee, a defiant regional government plans to reintroduce it next year, forcing all solar producers to pay an annual fee that varies with the power they pump into the grid. Various municipalities, meanwhile, are introducing taxes on new and existing wind turbines.

As in Italy, Belgium’s renewable sector in the county has gone dark –“imploded” in the view of a solar industry publication. Many companies shrank or went bankrupt.

READ MORE HERE:

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Comments
  1. helen busch says:

    What our governments are doing here is imposing sanctions on the citizens, plain and simple!! Dictators from the UN, Canada and the U.S. decides which country will starve, freeze to death. WE, in Ontario are being deprived the basic life necessities, handing out billions to their friends and foreign companies!! We can go as far as the sanctions put on us for immigration/refugees – once here they are guaranteed food,housing, healthcare, free education while we can’t even pay for our hydro/gas/food living in one room or sharing your home with a friend or neighbour and will get worse every year. The only difference with the santions imposed on us is that these Dictators will turn around and send them food and other goodies including millions so these people won’t die or freeze to death – we get nothing!!!

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