-
Support our campaign
to stop disastrous global
warming policies!
Getting Zapped: Ontario electricity prices increasing faster than anywhere else
Read Our Report On Wind Subsidies in Ontario
Author Archives: energyprbe
Brokers work on Hydro revamp
Ontario Premier Ernie Eves, under pressure to alter the controversial Hydro One initial public offering, is already working with Bay Street on a possible alternative that could result in an income trust.
Comments by Ontario Energy Minister Chris Stockwell, who raised the possibility Tuesday of revising the Hydro One plan, were dismissed in some quarters. But sources said yesterday Mr. Eves is seriously considering scrapping the IPO and opting instead for an income trust model.
Eves says Hydro sale 'off the table'
TORONTO – The largest privatization in Canadian history is in jeopardy after Ernie Eves, the Ontario Premier, said yesterday the $5.5-billion sale of Hydro One is "off the table for [the] immediate time being."
Signalling a major policy shift from his predecessor, Mike Harris, who announced the selloff of the transmission grid in December, Mr. Eves said he will await the outcome of public and legislative hearings before determining how to proceed, emphasizing that privatizing the utility is now just one of several options.
OPG seeking higher bids for 'damaged goods'
Ontario Power Generation Inc. (OPG) has yet to cut deals for four assets it put on the block almost a year ago even though there are parties willing to fork over cash for the Crown-owned plants.
"We have had interest expressed in those plants," said John Earl, a spokesman for the electricity producer. "We still hope to move forward quickly with our [sale] efforts, but at the same time we want to make sure we protect the interests of the shareholder [the Ontario government].
Confusion threatens Hydro One
A "cloud of uncertainty" is hanging over Hydro One Inc. and the on-again, off-again privatization threatens to undermine the goals of restructuring Ontario’s $10-billion electricity market, say industry insiders and analysts.
Eves government has a responsibility
The new Ernie Eves government in Ontario appears to be scoring big with those deep-blue Tory backers from the hinterland, organized labour. On the day Mr. Eves won a by-election last week, the Ontario government ended an eight-week strike by 45,000 members of the Ontario Public Service Employees Union, mostly by giving into union demands and expanding the union’s influence over the province’s civil servants. The union got three-year wage increases between 9% and 14%, more sway over contract workers and control over a big wad of pension cash. On with the revolution! Continue reading
Deregulation architect backs Hydro One IPO
Donald Macdonald, the former federal finance minister and one of the architects of Ontario’s newly restructured electricity market, says the province should privatize Hydro One Inc. and do it through a public stock offering.
"I think it should be sold for the best possible return," Mr. Macdonald said yesterday at public hearings commissioned by the Ontario government to examine the future of the electricity transmitter. "And an initial public offering is the best course of action to be taken."
Spinoff of Hydro One's distribution business urged
A group representing Ontario’s local electricity utilities is recommending the provincial government spin off Hydro One Inc.’s distribution business because the company’s current structure does not promote competition and may lead to higher power bills for households.
IMO chairman wades into Hydro One debate
The head of the body that runs Ontario’s new competitive electricity market has waded into the politically charged debate over the future of Hydro One.
And the NDP opposition at Queen’s Park says that’s not something James Baillie should be doing.
The chairman of the Independent Electricity Market Operator, or IMO, says in a letter to Premier Ernie Eves that Hydro One must be "well capitalized." He says that’s important so it can make substantial investments in Ontario’s electricity grid, which it owns.
Political power vs. public power
Letter to the Editor of the Hamilton Spectator
Re: IMO Chairman wades into Hydro One debate (May 11)
NDP leader Howard Hampton has criticized the Independent Electricity Market Operator (IMO), one of Ontario’s electricity regulators, for advising Premier Eves about reliability problems that could result from a financial proposal the government is considering for Ontario’s transmission grid.
Hydro One needs access to new capital
The future of Hydro One, one of Ontario’s largest and arguably most important companies, has become a major topic of debate and discussion. At stake is whether Ontario creates a financially sound backbone for the future of the province’s electricity industry and, by extension, its economy. Or whether Ontario chooses an unworkable or restrictive business model harking back to the intrusive government controls that led to spiralling rates and the $38 billion in debt. The choice is stark and the stakes are high.
Energy Probe 