NORTH BAY – A recent study done for the Independent Electricity System Operator (IESO) confirms huge costs from heavily-subsidized renewable energy are being added to Ontario hydro bills.
It suggests renewable energy makes up 17 per cent of the Global Adjustment charge (Toronto Star, April 19, 2013.)
“Just last year, the Liberals were still saying renewables only made up about five per cent of energy costs. This means the portion of green energy related to your monthly hydro bill continues to skyrocket,” said Fedeli.
“The Ontario Energy Board recently reported the Global Adjustment is now $8.8 billion, up from the $6.3 billion cited in this report. That means heavily-subsidized renewable energy projects are adding $1.5 billion to hydro costs in Global Adjustment alone.”
The Liberal government's own 2010 fall economic update, which warned hydro bills would jump 46 per cent over five years, said renewable energy would be responsible for 56 per cent of that increase.
Fedeli also noted the Liberals have added at least $1 billion a year in added costs annually through surplus power sold to our neighbours at a loss, and through the spilling of water at Niagara Falls and shut down of nuclear reactors to accommodate wind energy on the grid during windy days.
The worst is yet to come, as even more heavily-subsidized renewable projects are allowed to come on line, Fedeli added, citing a recent analysis from Candice Malcolm of the Canadian Taxpayers Federation.
It noted the Ministry of Energy predicts that the monthly electricity charge related to renewable energy will rise from $2 per month in 2010 to $31 in 2018 for residential users, and from $38 per month to $500 per month for small commercial users such as convenience stores or restaurants.
“New renewables are costing us a fortune now, and that cost is set to skyrocket in the years ahead,” concluded Fedeli.
