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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
Energy Probe's presentation to Ontario's electricity billing review
In early October 2002, Ontario Premier Ernie Eves made comments criticizing the Ontario Energy Board and electricity bills, ordering a review of rates. The review is being conducted by Deloitte Consulting. Concerned that rate issues are best handled through independent regulatory processes and not through politically-driven processes, Energy Probe participated in the review process with some reluctance. Attached are speaking notes for Energy Probe’s presentation to Deloitte Consulting.
Energy Probe Presentation Continue reading
Eves donor cashed in on power deal
The largest corporate donor to Premier Ernie Eves’ leadership campaign bought the first privatized Ontario Hydro plants eight weeks after his March victory, then enjoyed soaring revenues when Ontarians were hit with the highest power rates in history.
Last summer, the private power company drained consumer pocketbooks – and a watershed – in the bargain.
Critics zap new electricity rules
New rules for Ontario’s electricity system will put the public purse at risk if the province needs to buy expensive imported power in the future, according to critics.
But the province says that with new generators coming on stream, the province isn’t likely to face the same need for imported power that currently exists – a need that cost about $200 million to fill this summer and fall.
The province has introduced new regulations for the power market to complement legislation passed this week.
Study begins on waterfront power plant
Ontario Power Generation is partnering with Calgary-based TransCanada PipeLines Ltd. to study the viability of building a fossil-fuel power plant on Toronto’s waterfront.
The limited partnership, called Portlands Energy Centre L.P., or PEC, will immediately begin environmental and economic studies for the proposed 550 megawatt natural gas power-generation facility.
The plant would be located on part of the former R.L. Hearn Generating Station, which is owned by Ontario Power Generation, or OPG.
U.K. firm sells Bruce stake
British Energy PLC is selling its 82-per-cent stake in Bruce Power LP to a group of Canadian businesses for $950-million, but a forecast shows the deal still won’t ease Ontario’s energy supply problems.
Under the sale, TransCanada PipeLines Ltd., Cameco Corp. and a unit of the Ontario Municipal Employees Retirement Board (OMERS) will become the new majority owners of Bruce. The three will each own 31.6 per cent of Bruce, while two unions will own 5.2 per cent.
Enbridge disputes board's decision
Enbridge Gas Distribution Inc. has asked the Ontario Energy Board to reconsider a decision last month in which the board questioned whether Enbridge still has the in-house expertise to run gas pipelines.
Enbridge Gas Distribution has 1.5 million customers in Ontario, and serves most of Greater Toronto east of Oakville.
The company has been aggressively outsourcing operations, including gas purchasing, pipeline operating control and customer service – in many cases to its parent, Enbridge Inc., or to other Enbridge affiliates.
Power rate cap likely to cost taxpayers plenty
It’s becoming clear how much money the Ontario government will have to spend to bribe voters by ending the province’s brief flirtation with an open electricity market and capping power rates.
The province’s 86 local electrical utilities reported this week that they lost $110-million in December because they had to buy electricity on the volatile wholesale market while selling it at the government’s mandated retail rate of 4.3 cents a kilowatt-hour.
Ontario pulls plug on sale of Hydro One stake
TORONTO — Ontario Premier Ernie Eves scrapped plans on Monday to sell a minority interest in Hydro One, the government-owned power grid, citing the need to protect energy consumers in Canada’s most populous province.
The decision hammered another nail in the coffin of the province’s experiment with electricity deregulation. A court decision last year scuttled plans to sell the entire transmission operation in what would have been Canada’s biggest initial public offering.
Ontario decides not to sell part of big hydroelectric utility
All but putting an end to a deregulated electricity market in Canada’s industrial heartland, the government of Ontario said today that it would retain full ownership of Hydro One, the Toronto company that operates one of North America’s biggest transmission networks.
Less than a year ago, the government said that it intended to sell Hydro One through a public offering that would have been the largest in Canadian history, raising an estimated 5 billion Canadian dollars or $3.26 billion.
Hydro One left in turmoil
A decision by Ontario Premier Ernie Eves to scrap a partial sale of Hydro One Inc. has raised more uncertainty about the future of the utility and the province’s energy policy, industry observers said yesterday.
"It is possible that some of these people [bidding on the stake] will still come back for other investments of the same type in Ontario," said one investment banker advising on a bid.
Energy Probe 