Let's see how Ontario Hydro is doing now...

Locutus

Adorable Deplorable
Jun 18, 2007
32,230
45
48
65
Although the Independent Electricity System Operator (IESO) failed to produce their Monthly Summary for June 2015 in a reasonable and timely fashion, they did provide information that allows one to determine how much our electricity sector has removed from ratepayers pockets for the first six months of 2015.

How bad is it? Bad.

It turns out 1.9 terawatts (TWh) of Ontario’s electricity production (15.2% of Ontario’s demand of 10.6 TWh) was exported to our neighbours in Michigan, New York and Quebec, etc., in June. Ontario received payment of those exports at the hourly Ontario electricity price (HOEP) $15.31/megawatt hour (MWh) or 1.53 cents per kilowatt hour (kWh) of $29.1 million. However, the cost to produce and transmit that 1.9 TWh, was $131.43/MWh (13.14 cents/kWh) — that means it cost Ontario ratepayers $249.9 million. Most of that wound up in the big (and growing) pot referred to as the Global Adjustment (GA).
$221 million lost in just one month
So Ontario’s electricity ratepayers picked up the difference of $221 million, which when added to our export losses for the prior five months of 2015, brought costs to almost 1.1 billion1. for the first six months of 2015.

The 1.9 TWh exported in June brought total exports for the first six months of 2015 to 12.53 TWh. That’s about what the entire City of Toronto consumed in that same period.

Perhaps it’s time for Premier Wynne to realize that the losses on our exports represents a “green tax” on all of the ratepayers in Ontario and the remedy is to cancel any further renewable energy contracts. This could prevent bankruptcy and hardship for many Ontario electricity customers and avoid fulfilling the prediction of Ontario’s Chamber of Commerce that 1 in 20 businesses would “close their doors” due to high electricity prices.

©Parker Gallant,

August 11, 2015

1. The figure of $1.1 billion is equivalent to the cost of moving the Oakville and Mississauga gas plants but that was a one-time event whereas this cost to ratepayers will occur twice in 2015 and continue into the future.


Six months and Ontario’s exports over $1B | WCO | Wind Concerns Ontario


this is probably missing from prog newsfeeds/newscasts
 

taxslave

Hall of Fame Member
Nov 25, 2008
36,362
4,336
113
Vancouver Island
Now that is a good business plan. Sell your product for about 1/10 of the cost of production.At that rate they should be out of debt in about .........Next election.
 

IdRatherBeSkiing

Satelitte Radio Addict
May 28, 2007
14,591
2,334
113
Toronto, ON
Don't worry, in a couple of years they will have a nice pool of retirement capital from the new pension plan to fund this shortfall.
 

lone wolf

Grossly Underrated
Nov 25, 2006
32,493
210
63
In the bush near Sudbury
Don't worry, in a couple of years they will have a nice pool of retirement capital from the new pension plan to fund this shortfall.
They already had a nice pool of retirement capital in that Debt Retirement thing that just won't go away - mainly because they borrowed another 4 billion against it in their ongoing ripoffery
 

petros

The Central Scrutinizer
Nov 21, 2008
108,893
11,177
113
Low Earth Orbit
Now that is a good business plan. Sell your product for about 1/10 of the cost of production.At that rate they should be out of debt in about .........Next election.

Sounds like something BC Hydro would do....for the past 50 years.
 

IdRatherBeSkiing

Satelitte Radio Addict
May 28, 2007
14,591
2,334
113
Toronto, ON
They already had a nice pool of retirement capital in that Debt Retirement thing that just won't go away - mainly because they borrowed another 4 billion against it in their ongoing ripoffery

This government will have stripped the coins from the vending machines at Queen's Park before they are done to cover their vortex of financial mismanagement. No money is safe whether they own it or not.
 

petros

The Central Scrutinizer
Nov 21, 2008
108,893
11,177
113
Low Earth Orbit
This government will have stripped the coins from the vending machines at Queen's Park before they are done to cover their vortex of financial mismanagement. No money is safe whether they own it or not.

Private institutions and the Bank of Canada don't trust them either but it's Harpers fault.
 

Curious Cdn

Hall of Fame Member
Feb 22, 2015
37,070
6
36
Ontario Hydro is long gone. It was busted up into its constituent parts. Wish that I can remember why beyond that Hydro had become too big for its britches, according to a long forgotten government.