Ontario's Liberal government took steps Tuesday to take some pressure off of rising electricity rates, cancelling plans to sign contracts for up to 1,000 megawatts of power from solar, wind and other renewable energy sources.
Energy Minister Glenn Thibeault said the move will save up to $3.8 billion of the costs projected in the 2013 long-term energy plan, and will keep about $2.45 a month from being added to hydro bills for homeowners and small businesses.
The Independent Electricity System Operator's planning outlook determined Ontario has a "a strong supply of clean power" for the next decade, added Thibeault.
"It was power that we didn't need right now," he said. "Looking at this prudently and finding ways to continue to have downward pressure on rates, because that's one of the mandates that I've been given by the premier, I acted on it."
The Progressive Conservatives have been demanding the Liberals stop signing long-term contracts for renewable energy projects, and said Ontario's high electricity rates are driving businesses out of the province. read more >>