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Getting Zapped: Ontario electricity prices increasing faster than anywhere else
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Category Archives: Reforming Ontario’s Electrical Generation Sector
U. S. official lauds Ontario's open power market
One of the architects behind Pennsylvania’s restructuring of its electricity sector says ratepayers in the state have saved more than US$4-billion over the past five years on hydro bills and become sophisticated power customers – and predicts much the same for Ontario as its $10-billion market opens for competition today.
Ontario mulls income trust for Hydro One
Chris Stockwell, Ontario’s Energy Minister, has further complicated the Hydro One Inc. privatization saga by saying the government is toying with turning the electricity transmitter into an income trust.
"We’re going to look into it," Mr. Stockwell said yesterday. "I don’t claim to be an expert on this, but it seems to accomplish both our goals: it gets us the capital dollars and it puts it in the private sector with shareholders … which will make it a more efficient operation."
Ontario Hydro 1906-2002
"Nothing is too big for us. Nothing is too expensive to imagine." So argued Ontario Hydro’s megalomaniac founder, Adam Beck, before 700 municipal delegates in 1914. Originally set up as a transmitter, not a generator, Hydro was supposed to own the power lines while the energy would be supplied by municipalities or private companies, like those already operating at Niagara Falls. Continue reading
Hydro sale may turn into leasing
In a surprise move yesterday, Energy Minister Chris Stockwell (pictured) said the Ontario government might simply lease the Hydro One transmission utility instead of selling it outright.
His comment came less than a week after Premier Ernie Eves vowed to push ahead with the sale of the utility for $5.5 billion and a day before Ontario’s electricity market opened up for competition.
Ontario Tories' change on Hydro reveals a dangerous cowardice
Imagine this: A CEO announces that his company will join the stock market. The machinery – the underwriting syndicate, retail sales strategy, legal work – is put in place to ensure the deal is completed. Then, months later, the CEO’s second-in-command comes along and says, hold it everyone, we may not do this after all. Is this any way to run a company?
Deregulation Day One off to 'very good start'
Photo: Glen Lowson, National Post
Mario Churland, senior exchange co-ordinator, at work yesterday on the electricity trading floor at the Independent Electricity Market Operator in Mississauga, Ont., where they buy and sell power to Ontario residents.
Ontario’s $10-billion electricity market opened yesterday with power prices well below average levels and industry observers impressed with first-day results.
Calm launch for Ontario electricity trading
Ontario’s electricity market opened for trading without a hitch yesterday, and the new spot price of electricity stayed within the anticipated range for an average spring day.
Some critics of the Ontario government’s deregulation plan had predicted immediate and drastic price spikes, and were proved wrong. But experts warned yesterday that no simple lessons about deregulation can be extracted from one calm day of trading.
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].
Energy Probe 