On February 1st, Ontario’s Independent Electricity System Operator (IESO) asked Hydro One to upgrade its transmission system to permit Ontario to buy large quantities of low-cost water power from Quebec.
Specifically, the IESO has asked Hydro One to increase its import capability by up to 1,650 megawatts (MW) by December 2022 at a cost of approximately $20 million. This upgrade will permit Ontario to buy enough Quebec water power to displace more than 50% of the output of the Darlington Nuclear Station.
According to Financial Accountability Office of Ontario, in 2017 the province bought water power from Quebec at an average price of 2.2 cents per kWh. Ontario Power Generation’s price of nuclear power is currently four times greater at 8.8 cents per kWh. And the price of nuclear power is forecast to rise to 16.5 cents per kWh by 2025 to pay for the re-building of Darlington’s aging nuclear reactors.
By purchasing low-cost water power from Quebec, Premier Ford will be able to keep his promise to reduce Ontario’s electricity costs by 12%. This is great news for Ontario’s electricity consumers and the environment!
Angela Bischoff, Director