Down down down we go… it used to be good in Ontario, but now we begin to break under the burden of provincial debt. The Green Energy Act, with help of the Liberal government will continue to kill this once great province. Sad but true.
Contributed by Robert Lyman @ 2016
The final numbers for 2015 are now in and it’s official. Last year, Ontario exported 22.6 terawatt hours (TWh) of electricity to New York, Michigan and other U.S. states. For that, the province charged an average of $23.60 per megawatt hour (MWh), so it received about $534 million. This is the “profit” that Ontario Energy Minister Bob Chiarelli will proudly announce.
There is only one problem – a big one. To produce that exported electricity cost the Independent Electricity System Operator (IESO) an average of $101.40 per MWh, for a total cost of $2,293 million. The loss on export sales was therefore $1.759 billion.
The good news is that the losses did not hit the $2 billion that was projected early in 2015. The bad news is that this is Ontario’s all-time highest loss on exports sales, not even taking account of the money paid…
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