Articles filed under Impact on Economy from Canada
Ontario Auditor General Jim McCarter found billions of dollars in solar and wind projects were approved without appropriate oversight, including and regulatory and planning procedures. ...The controversial Samsung deal, which will pay $110 million over 20 years over and above the already hefty FIT premium in exchange for $7 billion in investment, was done with "no formal economic analysis ... to determine whether the deal was prudent."
CBC News has learned that already one bank in the Melancthon area is not allowing lines of credit to be secured by houses situated near wind turbines. In a letter to one family situated close to the turbines, the bank wrote, "we find your property a high risk and its future marketability may be jeopardized."
From smart meters, to the Green Energy Act, to the Samsung subsidy, electricity bills are skyrocketing. When you add in the impact of the HST and other rate increases, the annual cost of electricity bills for Ontario families is set to increase by another $732 per year by 2015, according to the Canadian Manufacturers and Exporters. Premier McGuinty is running Ontario's hydro system in a way that is unsustainable.
As many as 1,700 green energy jobs in southwestern Ontario are to be announced this week, according to Queen's Park sources. The announcements are part of an energy policy blitz as the provincial Liberal government tries to take the offensive on the energy file.
Ontario unveiled a sweeping long-term power plan on Tuesday that throws the province's support squarely behind renewable energy, but also brought bad news for consumers who will see their electricity bills double by 2030.
Going back to 2003, based on numbers dug up by consultant Tom Adams, the price of residential electricity in Ontario hovered around 8.5¢ a kWh in 2003 - the first year of the McGuinty Liberal regime. By 2015, Aegent Energy estimates the price will be up to 21¢, an increase of 135%. Doubling the price of electricity in a decade is no way to spur growth and investment.
"We believe it would be economically detrimental to the whole entire area," said Betts, who lives in the scenic Gulf Shore area just outside Pugwash, on Tuesday. "This is a destination (for) tourism (and a) recreational and retirement area. People deliberately come here for the peace and quiet. If we have any net loss of people coming in, we have a huge loss in the whole area."
"You are going to get screwed, and it's going to be painful," said Tom Adams, a Toronto-based consultant and a former executive director of Energy Probe. "We're talking about hundreds of dollars a year out of your pocketbook that didn't need to happen." Much of the blame for the rise in electricity rates is due to Ontario's Green Energy Act, which promotes the use of solar, wind and other alternative power sources.
The Ontario Power Authority has proposed dropping the rate to 58.8 cents per kilowatt-hour from the current 80.2 cents. Ontario Energy Minister Brad Duguid said "There was an exorbitant rate of return on this and it brought on an onslaught of applications because there was huge money to be made."
The Ontario government has taken the highly unusual step of ordering the province's Crown-owned electricity utilities to cancel their requests for hydro rate increases, amid worries of a consumer backlash over soaring power costs. The government's 11th-hour intervention in a rate-setting process that is designed to take the politics out of electricity pricing follows revelations that residential customers in Ontario are already facing increases of $300 more a year on average to keep the lights on by the end of 2011.
An 8 per cent increase in domestic electricity costs announced yesterday is the latest in a series of fees that will drive up costs, and that's before the subsidies, the Opposition said. "People in this province are seeing increases that are putting them at the point where they can no longer cope with the prices of energy, and we haven't seen them all," said Progressive Conservative energy critic John Yakabuski.
The world is littered with cautionary tales about subsidized renewables and overblown promises. Spain went wild on solar, and set off a speculative boom. Inefficient, poorly designed plants popped up everywhere. The lavish subsidies inflated costs. When Spain plunged into recession, the subsidies were ratcheted back, and the industry collapsed. Wind economics are shaky, too.
Landlord Bill Sioulas thought he'd be paying less for hydro after cutting his consumption by almost 20 per cent. ...Expecting big savings, Mr. Sioulas says he was shocked to open his hydro bill and find a skyrocketing provincial fee had eroded the payoff of his conservation efforts.
The Ontario government's rush into renewable energy, and industrial wind turbine-generated electricity in particular, is likely to reveal the law of unintended consequences. The government needs to rigorously re-evaluate this precipitous policy before committing billions more in subsidies to it. First, as to the cost of wind-generated electricity, the feed-in tariff for on-shore wind turbines in Ontario provided for under the Green Energy Act is 13.5¢ per kWh (and higher for smaller projects).
Premier Dalton McGuinty says his $7-billion deal with South Korea's Samsung Group to create 16,000 new jobs over six years will "make Ontario the place for green energy manufacturing in North America." He'd better hope so. That's a huge price tag to provide less than one-third of the 50,000 green jobs McGuinty promised would result from his Green Energy Act.
Here in Northumberland, we live in one of the most beautiful counties east of Toronto. But, I am not sure our local governments really appreciate the effect of what is not in place for safety and environmental issues, and future protection from visual and noise pollution. Why the focus on large wind farms? They are not environmentally friendly and pose a real danger for wildlife and its future in the area. ...In addition, there is the visual pollution of the hills we use to attract tourists.
A strategy to subsidize the province's nascent green energy industry is starting to sting businesses and many households that find themselves paying the biggest markups on electricity pricing in the country. Even as electricity demand - and market prices - dropped last year with the global economic downturn, electricity bills have risen steadily on the back of generous contracts signed by the province's power planning agency.
Too clever for his own good? That might be the case for Energy Minister George Smitherman, who aims to turn Ontario into a renewable-energy superpower and create thousands of green-collar jobs. Both are great ideas. But a deal being made on the sidelines could undo much of what Smitherman and the Liberal government are trying to accomplish.
Nova Scotians may face higher electricity costs in the short term as the province moves toward cleaner and renewable energy, says the man in charge of overseeing Nova Scotia's renewable energy strategy. Dalhousie University's David Wheeler said Monday it is inevitable Nova Scotia Power customers will face a jump in prices ..."If we end up with a global carbon energy tax, then producing energy from coal is going to be very expensive for Nova Scotia consumers," Mr. Wheeler told reporters.
P.E.I. must care for the North Shore's famous views when expanding wind power generation, says the Dune Shores Tourism Association. The Island often uses views of the area east and west of Cavendish to sell the Island to tourists. But the province wants to triple its wind power generation, and a group has come forward to build in the area.