With Ontario’s crown corporation responsible for operating the electricity market projecting a positive long term outlook, the province’s energy minister is cancelling future green energy plans.
At least that’s what Glenn Thibeault says is behind the move to cancel the signing of contracts for solar, wind and other renewable energy. The deal would have provided up to 1,000 megawatts of power for the province, however the Liberals say it’s simply not needed and that the cancellation would keep rates down for consumers.
The Independent Electricity System Operator made the determination that the additional power would not be needed as suggested by the 2013 long term plan, and that close to $4 billion could be saved by the province equating to saving the average consumer about of $2.45 a month on their hydro bill.
“There is no urgent need to pursuit additional energy at this time” said Thibeault in a press conference Tuesday morning. “Given this strong energy position, it only makes sense as a government, that we take a look at our procurements and make common sense adjustments.”
Thibeault says current investments in electricity will be more than adequate in providing Ontario with “a strong supply of clean power”, and that cost cutting moves can be made on the forthcoming long-term energy plan in 2017.