Toronto has a dearth of power plants and an aging grid. By the end of 2013, we’ll have the highest hydro rates on the continent. And the reasons are purely political
Toronto is on the verge of a major energy crisis. With our limited supply and decrepit distribution system, we’re more vulnerable to outages than any other large urban centre in North America—especially during peak summer periods. The problem is most acute in the booming southwest GTA, where electricity demand has doubled in recent years, while the area’s power generation has been cut in half.
Keeping the lights on isn’t the only problem. Ontario’s power plan has been bungled so badly that by the end of next year, we’ll have some of the highest electricity rates on the continent. By 2010, the price of hydro had already doubled under Dalton McGuinty’s Liberals, and it was expected to go up another 46 per cent by 2015, largely thanks to the government’s green energy plan. Given the inextricable link between electricity prices and economic performance, and the fact that the province is already struggling with an enormous debt load, the projected increase is perilous. Read the rest of this entry »
Read the rest of this entry »