Ontario lost up to $1.2 billion selling clean energy: engineers

Ontario lost between $732 million and $1.25 billion over the past two years selling surplus clean electricity outside the province, an analysis by the Ontario Society of Professional Engineers (OSPE) estimates.

That’s the difference between what Ontario agreed to pay to produce nuclear, water, wind and solar power, and the bargain basement price it sold it for on the international market.

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  • Old Guy

    It’s time for new gates in Ontario.

    “Abandon all hope, ye who enter here”

  • CodexCoder

    Well, if its not your money, and there are no personal consequences for wasting it, or lying about wasting it (except a large public pension when you leave office), what do you expect?

    The Ontario politician has lost all fear of the citizenry because there is no punishment for their crimes and misdemeanors.That which is rewarded and not punished is repeated and with greater fervor until punishment is enacted.

  • simus1

    When you bad rent seeking voters and bad vote whores in power and in opposition:
    Really Bad Shit Happens.

  • Liberal Progressive

    But at least all those green energy providers made lots of money!

    • Yo Mama

      An most of dem were Lieberals.

      • Observer

        Mike Crawley, the former President of the Liberal Party of Canada, made his millions thanks to Liberal government green energy subsidies.

  • mauser 98
  • canminuteman

    The way the contract are set up, wind and solar must be bought and put on the grid when it is available. Since it is almost always available when no one in Ontario needs it it goes on the grid at market price. When no one needs it, the market price is negative. This means we are paying people, who are our business competitors power bills for them. You couldn’t get any crazier if you tried.

    • Jaedo Drax

      The lowest price I can find is -$67.02 per MW/h(July 2 @0600)which is better than previous years. The current record low is -$138.79 per MW/h from April 30, 2011 @ 2400.

      The highest price was $1822.95 per MW/h (March 17 @ 2000), which is someone fucking up badly. The current record high is $1891.14 per MW/h from February 18, 2009 @ 1200.

      This year’s average is $13.79 per MW/h (or $0.01379 per kW/h).

      The global adjustment is the to make up the difference between the contracted prices, and the wholesale prices, and is usually hidden in your time of use rate. Given the level of competence for our ‘betters’ it will never be negative.