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Author Archives: energyprbe
Ontario's electricity liberalization: from promise to crisis (part 2)
Energy Probe does not claim that its analysis is definitive. Significant gaps in the financial reports exist. One difficulty is that revenues for OEFC are not sufficiently disaggregated in the reports we have obtained to allow them to be reconciled with the reports of the other Hydro successors. OEFC’s own 15 month income statement appears to contain an internal discrepancy of $40 million.
Ontario's electricity liberalization: from promise to crisis (part 1)
This speech, fully titled "Ontario’s Electricity Liberalization: From Promise to Crisis and Lessons for Atlantic Canada", was delivered by Thomas Adams(1), Executive Director, Energy Probe, for "Plugging in Atlantic Canada", a conference presented by the Atlantic Institute for Market Studies (AIMS) and the Electricity Consumers Alliance of Nova Scotia (ECANS).
Introduction
Atlantic Canada should aim for regional pwr mkt-thinktank
TORONTO -(Dow Jones)- Atlantic Canada should aim for a regional power market as it moves toward liberalization, rather than doing things province by province, an energy industry thinktank said Friday.
"An interjurisdictional market reduces the grip of politicians," as seen in the experience of PJM and Australia, said Tom Adams, executive director of Toronto-based Energy Probe. A broader market will also have practical advantages, including spreading out set-up costs, Adams said.
Ontario Hydro bound for bankruptcy — again
Two weeks ago, and four months late, Ontario Electricity Financial Corp. (OEFC) — the bailout agency for the old Ontario Hydro — released its first annual report. Despite government pledges to restore financial responsibility to the revamped power sector, the flood of red ink pouring from Ontario’s electricity system is rising. Although OEFC’s mandate is to service and retire the former Ontario Hydro’s liabilities, the liabilities are mushrooming. The new Hydro is running amok, and taxpayers are worse off by more than $1-billion.
Missed hydro deadlines spark fears of 'chaos'
Utilities, major electricity users fail to file plans
More questions arose yesterday about how people and businesses in Ontario will buy electricity when some major players showed they’re not ready for the new power market in the province.
Some utilities and big power users failed to file plans by provincial deadlines to prepare for the new, competitive electricity market.
Deregulation electrifying Ontario
Richest market: Alberta, California act as models of what not to do
Chaos in Alberta and a possible taxpayer revolt in California are instructive examples in how not to deregulate a multi-billion-dollar industry, but participants in Ontario’s soon-to-be competitive electrical sector are split over whether the lessons are being learned as the province opens up Canada’s largest and richest market.
Re: 'Ontario's budget balancing act'
This article contains a number of factual errors and, as a result of these errors, it makes several baseless allegations.
The authors’ allegation that rolling the OEFC loss into the province’s financial statements would have resulted in a $47 million deficit for the year is not based on generally accepted accounting principles. Rather, it appears to be the result of the authors of the article cobbling together numbers to suit their purposes.
Cities cash in on power deregulation
"Bills higher in Toronto and Mississauga, but it’s hard to see benefit for consumers."
Consumers in two of Ontario’s biggest cities are starting to get a look at what electricity deregulation means for their power bills.
But it isn’t easy to see the full picture.
On the surface, it does not look so bad. Residential electricity rates in Toronto went up about 3 per cent as of Dec. 1, while those in Mississauga were up 2.6 per cent, effective Dec. 15. Similar hikes are pending over the next two years.
Canada wary of pitfalls of deregulation
It was not long ago that California was held up as a model for electricity deregulation in Canada. Now, the state’s power woes have deepened Canada’s winter chill as the provinces of Alberta and Ontario watch California’s struggle to keep its electricity utilities from bankruptcy.
The two Canadian provinces are in the process of adopting competitive electricity markets. But critics are now questioning the future of deregulation amid growing alarm over Californian power shortages and the poor health of the state’s utilities.
Heavy hydro users seek continued rate deal
Several highly profitable companies, including Imperial Oil and Dofasco, are among the businesses receiving subsidized electricity rates from Ontario Power Generation, according to regulatory filings by the companies.
Other businesses that have been granted special low-cost electricity from the provincially owned utility include energy giant Amoco, forest products companies Kimberly- Clark and Bowater, and chemical producer CXY Chemicals.
Energy Probe 