In its latest “fun with numbers” report, the Fraser Institute claims that renewable energy is the single largest cause of Ontario’s rising electricity rates. This is simply not true.
The truth is clearly stated in the Ontario Energy Board’s (OEB) Regulated Price Plan Price Report (October 22, 2019) which shows that nuclear power is the single largest cause of our rising electricity rates. Specifically, according to the OEB report, nuclear power is responsible for 45% of the rise in the price of electricity generation. Wind and solar generators are responsible for 15% and 13% respectively of our rising electricity generation costs.
Let’s be clear. The real story is that Bruce Power’s and Ontario Power Generation’s (OPG) nuclear rates have risen by 84% and 109% respectively between 2002 and 2019.
To add insult to injury, according to OPG, its price of nuclear power must rise by an additional 83% to 16.5 cents per kWh by 2025 to pay for the Darlington Re-Build.
While OPG is at least transparent about its future rate increases, Bruce Power and the Government of Ontario are refusing to state what Bruce Power’s annual rate increases will be pursuant to its 49-year sole-source contract negotiated with Premier Wynne’s government in 2015.
If Premier Ford wants to keep his promise to lower our electricity costs by 12%, he must say “yes” to Hydro Quebec’s repeated offer to sell us water power at a price of 5 cents per kWh. It doesn’t make sense to re-build 10 aging nuclear reactors when we can import clean, safe, renewable electricity from our next-door neighbour at less than one-third the cost.
Please sign our petition asking Premier Ford to make a deal with Quebec to lower our electricity bills:www.BuyQuebecPower.ca.
Angela Bischoff, Director