Sky high electricity costs for Ontario consumers and businesses. Cheap electricity to the USA and Quebec.
Steve McIntyre tweeted: “Ontario lost $400 million in Q4 2015 alone in wind power. Dumped to neighbors for $5 M.”
This is the article he is referring to:
The 3,434,750 MWh is estimated to have cost ratepayers approximately $460 million. The 3 TWh of electricity IWT delivered to the grid cost about $405 million and the curtailed cost was almost $55 million. During the quarter, the HOEP1. averaged $1.50/MWh, meaning if all of generated and curtailed wind was a part of the 5.4 TWh exported, it would have generated only a shade over $5 million —that would have reduced the cost to ratepayers to $455 million. With 92 days in the last quarter of 2015, the money paid by Ontario ratepayers averaged daily was almost $5 million.
I found another one for June. With a good explanation of the stupidity.
Electricity watchdog Parker Gallant keeps a wary eye on energy prices in this province.
In a recent post on the website www.windconcerns.ca, Gallant points out the government paid $200 million in June to dump electricity at a loss.
Gallant, vice-president of Wind Concerns, estimates 1.9 terawatts (TWh) of Ontario’s electricity production (15.2% of Ontario’s demand of 10.6 TWh) was exported to Michigan, New York and Quebec, in June.
Ontario was paid $29.1 million for those exports. Unfortunately, it cost provincial ratepayers $249.9 million to produce that same electricity.
Here’s the math: Ontario exported the power at the Hourly Ontario Electricity Price (HOEP) of $15.31/megawatt hour (MWh) or 1.53 cents per kilowatt hour (kWh) for $29.1 million. However, the cost to produce and transmit that 1.9 TWh, was $131.43/MWh (13.14 cents/kWh) — or $249.9 million.
“Most of that wound up in the big (and growing) pot referred to as the Global Adjustment (GA),” Gallant reports.
“So Ontario’s electricity ratepayers picked up the difference of $221 million, which when added to our export losses for the prior five months of 2015, brought costs to almost $1.1 billion for the first six months of 2015,” Gallant said.