Things have gotten so bad for Premier Kathleen Wynne’s government on its cursed green energy file that the Liberals aren’t even checking their new press releases to make sure their latest fibs are consistent with their old ones.
Case in point was the claim by Energy Minister Bob Chiarelli Thursday that slashing the province’s 2010 deal with Samsung for expensive, unreliable and unneeded wind and solar power, will save Ontario consumers $24 a year on their hydro bills.
How can that possibly jibe with then premier Dalton McGuinty’s 2010 claim the original Samsung deal would cost hydro consumers just $1.60 a year for 25 years?
In the original (sole-sourced) Samsung deal, Ontario agreed to pay the South Korean conglomerate $9.7 billion to produce 2,500 megawatts of electricity, with Samsung investing $7 billion.
Under the revised deal, Ontario will pay Samsung $6 billion to produce 1,369 megawatts of electricity, with Samsung investing $5 billion.
So how can reducing by one-third the size of a deal that was supposed to cost us $1.60 per year on our hydro bills, possibly save us $24 per year on our hydro bills? Answer: It doesn’t.
The reason is that when they announced the Samsung deal in 2010, the only cost to hydro customers the Liberals included was a $447 million “economic development adder” (later reduced to $110 million) to be paid if Samsung met certain performance conditions in the contract.
What the Liberals deliberately omitted was the far higher cost hydro consumers would be paying for wind and solar power — in the billions of dollars — compared to conventional energy sources.
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Sun News : Just call them the Fiberals
Man, ol' Winnie has a face on her like a can of crushed arseholes.
Case in point was the claim by Energy Minister Bob Chiarelli Thursday that slashing the province’s 2010 deal with Samsung for expensive, unreliable and unneeded wind and solar power, will save Ontario consumers $24 a year on their hydro bills.
How can that possibly jibe with then premier Dalton McGuinty’s 2010 claim the original Samsung deal would cost hydro consumers just $1.60 a year for 25 years?
In the original (sole-sourced) Samsung deal, Ontario agreed to pay the South Korean conglomerate $9.7 billion to produce 2,500 megawatts of electricity, with Samsung investing $7 billion.
Under the revised deal, Ontario will pay Samsung $6 billion to produce 1,369 megawatts of electricity, with Samsung investing $5 billion.
So how can reducing by one-third the size of a deal that was supposed to cost us $1.60 per year on our hydro bills, possibly save us $24 per year on our hydro bills? Answer: It doesn’t.
The reason is that when they announced the Samsung deal in 2010, the only cost to hydro customers the Liberals included was a $447 million “economic development adder” (later reduced to $110 million) to be paid if Samsung met certain performance conditions in the contract.
What the Liberals deliberately omitted was the far higher cost hydro consumers would be paying for wind and solar power — in the billions of dollars — compared to conventional energy sources.
more
Sun News : Just call them the Fiberals
Man, ol' Winnie has a face on her like a can of crushed arseholes.