My hydro bill was $421, and I'm not even there.
New York: WE love Ontario’s cheap power—thanks!
Ontario’s neighbours are once again thanking the electricity customers of Ontario for their generosity and giving spirit, as demonstrated in January 2015. What a nice way to start the New Year, getting all that cheap electricity generated by their Ontario neighbours!
In January Ontario exported 2,043,768 megawatts (MWh) and for an average price of $29.55 per/MWh while Ontario electricity customers picked up the additional costs of the Global Adjustment pot of $50.68 per MWh.
The sale of that surplus (enough to supply about 2.5 million Ontario homes with power for the whole month) represented 15.6% of Ontario’s total demand. It resulted $58.5 million in revenue but cost Ontario electricity ratepayers $164 million. That means all Ontario’s electricity customers reached into their pockets to make sure that wind and solar power developers like Florida-based NextEra, Enbridge and Germany-based wpd Canada, and others were fully compensated for all the power they generated (or didn’t generate) and was probably exported.
The $106.5 million extra that Ontario’s kindly ratepayers paid in January was about $25 for each ratepayer so it will hardly be missed unless you are a senior on a fixed income, living at the poverty line, have a family to feed, or are disabled.
So, Ontario ratepayers, do you think we can keep this up for the full year?
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©Parker Gallant,
February 19, 2015
The views expressed are those of the author and do not necessarily represent Wind Concerns Ontario policy.
P.S. Upset about the role of wind power in Ontario’s electricity sector and its effect on our economy? Time to make your voices heard —join Wind Concerns Ontario!
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