CDN-Economy & Related Factors

[spaminator]

Biz subsidy for 'green' energy to cost taxpayers $15.2B: FAO
Author of the article:Antonella Artuso
Publishing date:Mar 18, 2021 • 1 day ago • 2 minute read • comment bubble37 Comments
New wind turbine projects will be affected by the Ontario Liberal government canceling their green energy act to save money. (Mike Hensen/Postmedia News)
New wind turbine projects will be affected by the Ontario Liberal government canceling their green energy act to save money. (Mike Hensen/Postmedia News)
Article content
A Doug Ford government program that subsidizes electricity costs for large industrial and commercial users will set taxpayers back $15.2 billion, a new report from the Financial Accountability Office of Ontario (FAO) estimates.

The subsidy was launched Jan. 1 and pitched as a solution to pricey green energy contracts that drove up the cost of electricity at the expense of the province’s competitiveness.


The 2020 Ontario budget projected the government would spend $1.3 billion to cover the first three years of the subsidy, but the FAO report released Thursday says the net cost is $2.8 billion over that time period.

“The renewable generation subsidy program will shift approximately 85% of the cost of electricity generated under the green energy contracts from ratepayers to the province until the last contract expires around 2040,” the report says. “Over the life of the program, from 2020-21 to 2039-40, the FAO estimates that the renewable generation subsidy program will cost the province a net total of $15.2 billion.”

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A hydro pole
Ontario government reduces hydro costs for big industrial users
Toronto Sun file photo
GOLDSTEIN: Ford's pledge to cut hydro rates 12% was a stretch goal
A line of hydro towers reach into the distance in Bruce County, Ont.
Ford government brings in flat, lower electricity rate

Over 33,000 green energy contracts for wind, solar and bioenergy were signed in Ontario, the majority during the previous Liberal governments’ time in office and for a contract period of 20 years.

“The prices paid to generators under the green energy contracts are significantly higher than the average price of electricity in Ontario,” the FAO report says. “These high contracted prices are one of the factors that contributed to the price of electricity in Ontario doubling from 2009 to 2019.”


The Canadian Union of Public Employees (CUPE) Ontario said the billions of dollars going into subsidies for large corporations would be better spent on public services.

“Doug Ford and the Conservatives talk about the importance of businesses all the time but his actions show us they’re really only focused on big businesses, not small and local businesses,” CUPE Ontario President Fred Hahn said in a statement. “This is yet another handout for the very corporations who need it the least.”

The government has said the subsidy will promote economic recovery by supporting employers and job creators.

The FAO report estimates about 1,400 industrial electricity users, such as auto parts manufacturers and pulp and paper mills, will see a benefit of $6.3 billion by 2039-40, while hotels and office buildings and other large commercial ratepayers will get a $9.8 billion subsidy.

aartuso@postmedia.com

Biz subsidy for 'green' energy to cost taxpayers $15.2B: FAO

A Ford government program that subsidizes electricity costs for large industrial and commercial users will cost taxpayers $15.2 billion.

torontosun.com

 

[bob the dog]

205,000 on the 2020 Province of Ontario sunshine list for employees earning six figures. Takes a lot of lower level private enterprise jobs to average down to Canadian median income of $55,000 at that rate. Why on earth ever take a risk to earn less and miss out on the generous retirement benefits. Matters not that Ontario is closing in on $500 billion of long term debt and being hammered with interest.

Short sighted and non sustainable imo.

 

[pgs]

205,000 on the 2020 Province of Ontario sunshine list for employees earning six figures. Takes a lot of lower level private enterprise jobs to average down to Canadian median income of $55,000 at that rate. Why on earth ever take a risk to earn less and miss out on the generous retirement benefits. Matters not that Ontario is closing in on $500 billion of long term debt and being hammered with interest.

Short sighted and non sustainable imo.

Well don’t worry your unborn children are in debt to the government of Canado for 350,000.00 . They will be fine .

 

[Dixie Cup]

Biz subsidy for 'green' energy to cost taxpayers $15.2B: FAO
Author of the article:Antonella Artuso
Publishing date:Mar 18, 2021 • 1 day ago • 2 minute read • comment bubble37 Comments
New wind turbine projects will be affected by the Ontario Liberal government canceling their green energy act to save money. (Mike Hensen/Postmedia News)
New wind turbine projects will be affected by the Ontario Liberal government canceling their green energy act to save money. (Mike Hensen/Postmedia News)
Article content
A Doug Ford government program that subsidizes electricity costs for large industrial and commercial users will set taxpayers back $15.2 billion, a new report from the Financial Accountability Office of Ontario (FAO) estimates.

The subsidy was launched Jan. 1 and pitched as a solution to pricey green energy contracts that drove up the cost of electricity at the expense of the province’s competitiveness.


The 2020 Ontario budget projected the government would spend $1.3 billion to cover the first three years of the subsidy, but the FAO report released Thursday says the net cost is $2.8 billion over that time period.

“The renewable generation subsidy program will shift approximately 85% of the cost of electricity generated under the green energy contracts from ratepayers to the province until the last contract expires around 2040,” the report says. “Over the life of the program, from 2020-21 to 2039-40, the FAO estimates that the renewable generation subsidy program will cost the province a net total of $15.2 billion.”

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A hydro pole
Ontario government reduces hydro costs for big industrial users
Toronto Sun file photo
GOLDSTEIN: Ford's pledge to cut hydro rates 12% was a stretch goal
A line of hydro towers reach into the distance in Bruce County, Ont.
Ford government brings in flat, lower electricity rate

Over 33,000 green energy contracts for wind, solar and bioenergy were signed in Ontario, the majority during the previous Liberal governments’ time in office and for a contract period of 20 years.

“The prices paid to generators under the green energy contracts are significantly higher than the average price of electricity in Ontario,” the FAO report says. “These high contracted prices are one of the factors that contributed to the price of electricity in Ontario doubling from 2009 to 2019.”


The Canadian Union of Public Employees (CUPE) Ontario said the billions of dollars going into subsidies for large corporations would be better spent on public services.

“Doug Ford and the Conservatives talk about the importance of businesses all the time but his actions show us they’re really only focused on big businesses, not small and local businesses,” CUPE Ontario President Fred Hahn said in a statement. “This is yet another handout for the very corporations who need it the least.”

The government has said the subsidy will promote economic recovery by supporting employers and job creators.

The FAO report estimates about 1,400 industrial electricity users, such as auto parts manufacturers and pulp and paper mills, will see a benefit of $6.3 billion by 2039-40, while hotels and office buildings and other large commercial ratepayers will get a $9.8 billion subsidy.

aartuso@postmedia.com

Biz subsidy for 'green' energy to cost taxpayers $15.2B: FAO

A Ford government program that subsidizes electricity costs for large industrial and commercial users will cost taxpayers $15.2 billion.

torontosun.com

Those contracts should have been reversed the minute that the Conservatives were elected (altho' I admit I don't know if that was possible). The citizens of Ontario should have made a class action suit against Liberal party of Ontario who didn't have Ontario's best interests at heart; only their "friends" who lined their pockets. It was a fraud perpetuated by the Liberals who basically got away from it and Ontario is now and has been, paying the price.

 

[bob the dog]

Last week it was Rogers buying Shaw for $26 B. This week CPR buys KSU for $25 B. Perhaps the Age of specialization is upon us.

 

[bob the dog]

Those contracts should have been reversed the minute that the Conservatives were elected (altho' I admit I don't know if that was possible). The citizens of Ontario should have made a class action suit against Liberal party of Ontario who didn't have Ontario's best interests at heart; only their "friends" who lined their pockets. It was a fraud perpetuated by the Liberals who basically got away from it and Ontario is now and has been, paying the price.

Neighbour with solar panels on that program gets .80 / kw. Residential service is .12 / kw.

 

[taxslave]

If oil & gas got the same subsidies bird killers and bug zappers get gas would still be under $1.00 gallon.

 

[bob the dog]

Budget day will be interesting. To think provincial debt is not included in what was last announced as a $1.2 trillion public debt. Surely more now.

Canadians pay $75 million every day in interest. How sweet is that for the banks?

Carbon tax revenue will never exceed the expense of the program but will add a lot of really great career opportunities for some. Pretty girls to the front.

 

[pgs]

Budget day will be interesting. To think provincial debt is not included in what was last announced as a $1.2 trillion public debt. Surely more now.

Canadians pay $75 million every day in interest. How sweet is that for the banks?

Carbon tax revenue will never exceed the expense of the program but will add a lot of really great career opportunities for some. Pretty girls to the front.

Budget day ? Who needs a budget ?

 

[spaminator]

LILLEY: Canadians are the fools this April 1 as taxes, MP pay go up
MP salary, carbon taxes, booze levy all set to increase Thursday

Author of the article:Brian Lilley
Publishing date:Mar 30, 2021 • 18 hours ago • 3 minute read • 96 Comments
A Canadian flag flies in front of the Peace Tower on Parliament Hill in Ottawa.
A Canadian flag flies in front of the Peace Tower on Parliament Hill in Ottawa. PHOTO BY CHRIS WATTIE /REUTERS / FILES
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It seems that on April 1, Canadian taxpayers will be the fools.

Not only will we be on the hook for a pay raise for Members of Parliament, but will also see the federal carbon tax increase by 33%.

Tim Hortons enters 'Hall of Shame' for chemical use
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And if all that drives us to drink, we’ll also be paying more for the pleasure of a beer, wine or shot.

Welcome to the April 1 cash grab from Ottawa — and the best part is, it’s all automatic so MPs don’t have to do anything but collect the cash — for the federal treasury and for their bank accounts.

Your average MP already earns $182,600 for what Parliament euphemistically calls the “Basic Sessional Indemnity.”

Most of us would call that one heck of a salary, but as of Thursday the pot gets sweeter with MPs booking a raise of $3,200.

Sure, some would argue that a measly 1.7% increase is barely keeping pace with inflation — in fact, it might be a pay cut but it’s more than many Canadians received over the last year.

With MPs already making 3.4 times what the average Canadian earns, I have to wonder if they shouldn’t have just shelved the automatic raise this year.

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I’ll cut them some slack for not doing it last year — the pandemic was new, MPs were focused on that file and didn’t have the time to draft and pass such legislation when there were pressing matters.

But this year, they had the time but didn’t do it.

Turkeys don’t vote to be on the table at Christmas dinner, and MPs aren’t about to vote for a pay cut.

Not when Canadians so willingly accept increased pay for MPs and increased taxes. If there is something Ottawa wants to spend money on, seems most Canadians are more than happy to hand over big portions of their paycheques to fund it.

The carbon tax will increase from $30 a tonne to $40 a tonne as of Thursday, meaning gas will go up by at least 2.21 cents per litre, natural gas to heat your home will rise by by 1.96 cents per cubic metre and the cost of propane for your barbeque will rise by 1.55 cents per litre.

These numbers, all from the federal government, don’t include the GST that will be charged on top of the increased tax.

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A tax upon a tax, it’s the Canadian way.

We seem to celebrate such moves.

So it’s not shocking then that another taxed-tax will increase on April 1.

Starting in budget 2017, the federal government decided the federal excise tax on alcohol should increase in lockstep with the Consumer Price Index.

The CPI is essentially one measure of inflation, and the government decided their tax take should be tied to that instead of based on a percentage.

So as inflation rises, so does taxes on booze — 6.7% since 2017.

That may not sound like much, but it resulted in more than $1.2 billion in additional revenue annually, and will only increase as the years go by.

Canadians may be suffering through the pandemic, but it’s clear the federal government isn’t.

They have found ways to tax you more to heat your home, drive your car, cook your food and enjoy a drink with that burger — all while giving themselves a nice raise.

So this April 1, don’t worry about trying to play a joke on anyone else — it’s already been played on you.

LILLEY: Canadians are the fools this April 1 as taxes, MP pay go up

MP salary, carbon taxes, booze levy all set to increase Thursday

torontosun.com

 

[petros]

I'd like to see the data on the carbon tax showing irrefutable evidence it works.

 

[pgs]

I'd like to see the data on the carbon tax showing irrefutable evidence it works.

Good luck on that one .

 

[petros]

Good luck on that one .

Without 250,000 running to Blaine, B'ham or Sumas every week for gas now is the time to crunch the data for BC. There are wild cards tho. Harper mandated vehicles reach a specific efficiency standard and gas is far higher quality than 20 years ago.

I'm lucky tho, 75% of my needs are "purple" fuel that doesn't impact the environment, has no carbon tax, no excise tax and no PST that I buy in bulk at a locked in cheaper "winter" price. I bought double this year at Covid prices. I would have bought more last winter had the budget allowed. To top it all off I have piss pot of PetroCanada Petros Points 10cent a litre discount cards.

I can only assume the discount card gas purchases are worse for the environment.

 

[bob the dog]

Without 250,000 running to Blaine, B'ham or Sumas every week for gas now is the time to crunch the data for BC. There are wild cards tho. Harper mandated vehicles reach a specific efficiency standard and gas is far higher quality than 20 years ago.

I'm lucky tho, 75% of my needs are "purple" fuel that doesn't impact the environment, has no carbon tax, no excise tax and no PST that I buy in bulk at a locked in cheaper "winter" price. I bought double this year at Covid prices. I would have bought more last winter had the budget allowed. To top it all off I have piss pot of PetroCanada Petros Points 10cent a litre discount cards.

I can only assume the discount card gas purchases are worse for the environment.

$1.25 litre diluted with ethanol in my area. Same price as in Jamaica.

 

[bob the dog]

Big beef for Rogers and their wacky free roaming and long distance game.

I have lived in fear of making an international cell phone call since the day the things were invented being afraid of the big roaming bill. Decided recently that they must have that all worked out by now so made a call across the border to order an auto part only to see an additional $20 on the bill. I realize I could have set up a package to allow international calls for $5 day so it is on me but seriously to make one phone call it seems a bit much. $60 part will be at least $200 by the time I see it. Currently held up in customs.

Very easy to see that the giant corporations best interests are not for the consumer but to serve themselves in a world of entitlement. Obviously Rogers need to keep up with Bell Media.

All anyone wants is your money. Sad. Government included.

 

[Dixie Cup]

Neighbour with solar panels on that program gets .80 / kw. Residential service is .12 / kw.

I heard from a couple in Southern Alberta who spent over $30,000 on solar panels and have yet to see one red penny - in fact, their costs have gone up. How would that have happened?

 

[taxslave]

I heard from a couple in Southern Alberta who spent over $30,000 on solar panels and have yet to see one red penny - in fact, their costs have gone up. How would that have happened?

New math.

 

[bob the dog]

I heard from a couple in Southern Alberta who spent over $30,000 on solar panels and have yet to see one red penny - in fact, their costs have gone up. How would that have happened?

Maybe something to do with who they were dealing with. Ontario Power Generation was involved with the one I mentioned and it may go back to Dalton Mcguinty days. Program was discontinued but not sure about those that were already in. Neighbours place looks like hell with all the panels but he must be happy. He is an optometrist so the money is important.

 

[Dixie Cup]

Maybe something to do with who they were dealing with. Ontario Power Generation was involved with the one I mentioned and it may go back to Dalton Mcguinty days. Program was discontinued but not sure about those that were already in. Neighbours place looks like hell with all the panels but he must be happy. He is an optometrist so the money is important.

ya, if the name of the power generator was mentioned, I don't recall who it was, just that the lady that was speaking was quite irate at having spent so much money for absolutely nothing. Perhaps the "electrical grid" isn't set up to receive electricity from the solar panels??? Don't know. All I know is that I prefer natural gas - very little (if any) GHG's and extremely reliable, especially in the winter months.

 

[bob the dog]

Doing so well in the pipeline business Canada jumps into the airline business with an ownership and lender position with Air Canada. Champagne all around for the people involved.

Can't see how they can say no to anything Westjet will ask for now. Bailing AC out with a 1.5% loan when they did nothing for BBD facing 8% finance charges also makes them hypocrites. Guess it depends which way the wind is blowing.

Watch for US built F35's coming soon and more high speed rail from France. It's all good.