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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
Expect an initial shock on Ontario Hydro reform
"One day the unsoundness of the method must be apparent."
So warned James Mavor, a University of Toronto political economy professor, in The Financial Post in 1916, decrying the consolidation that created Ontario Hydro’s modern powers.
Ontario's White Paper: Learning from Australia to make its good principles work
The Ontario Government’s new White Paper, Direction for Change: Charting a Course for Competitive Electricity and Jobs in Ontario, is a marvellous achievement that if properly implemented will help cap liabilities against the public purse, lower electricity prices, and promote productive investment to the power sector. To guide the work that needs to be done to implement this vision, Ontario would do well to follow the successful approach to power reform used by the State of Victoria in Australia.
Energy Probe's position of power sector reform in Ontario
Hydro Utility to rein in compensation
TORONTO – The embattled board of directors at Ontario’s hydro utility yesterday caved in to a government ultimatum to reduce the lucrative salaries and compensation packages being awarded to senior executives.
But Conservative and corporate sources said the move casts doubt on plans to privatize the publicly owned utility.
Dirty energy plan
Letter to the Editor:
OTTAWA — Re Unfettered Electricity Markets Fuel Cynics In Alberta (June 6): Tom Adams of Energy Probe suggests that electricity deregulation in Alberta has helped the province move to a less coal-dependent power system. This offers a limited reflection of what’s really happening in this province.
CEO takes on power
A recent political appointment at one of Ontario’s electricity companies is raising concerns about more trouble ahead following the controversy at Hydro One.
The province recently hired Michael Gourley as CEO of the Ontario Electricity Financial Corp., which manages the $38-billion debt racked up by the old Ontario Hydro.
"Gourley is high-priced help," Tom Adams of Energy Probe said. "This guy is not a B-team player, so he’s an expensive guy."
Ontario Hydro's debt spirals up $700 million
The unfunded debt left by the former Ontario Hydro has increased during the past year, newly released financial statements show.
And one energy critic predicts the special debt reduction charge that consumers are now paying on their hydro bills will have to be increased if there’s to be any hope of paying it off.
The annual report of the Ontario Electricity Financial Corp., or OEFC, which holds the Ontario Hydro debt, shows the unfunded portion of the debt has grown by $700 million since OEFC assumed it in 1999.
S&P sees political intervention for Ontario utilities
The following statement was released by the ratings agency
Ontario's dim electricity policy will shock users soon
The lights were on yesterday in Ontario, and what a luxury that was. When ample juice should have been available – a day too cool for air conditioners, too warm for heaters – the province still had to import electricity because about one-third of the generating capacity was under repair and out of commission. It did so at horrendous cost.
McGuinty promises positive change
Calling the provincial election race in Sault Ste. Marie "neck-and-neck," Liberal leader Dalton McGuinty swooped into the city Monday with just days remaining in the campaign.
He told party faithful at the Marconi Hall that the latest polls indicate the Liberal and NDP "are in a dead heat" locally.
The Liberals have not won the Sault Ste. Marie riding since the 1930s.
Energy Probe 