Tuesday, October 18, 2011

CP Article - Green energy costs will be 40 per cent higher than estimated: study

Mon Oct. 17 2011 10:46:10 AM

The Canadian Press

Green energy costs 40 per cent higher: study
TORONTO — A new study says the cost of providing wind and solar energy in Ontario will be about 40 per cent higher than government estimates.

The study says people should expect their electricity bills to rise by 65 per cent by 2015 and 141 per cent by 2030.

That's substantially higher than current government predictions that say bills will increase by 46 per cent by 2015 and 100 per cent by 2030.

University of Guelph professor Glenn Fox, who co-authored the study, says that would have Ontarians paying some of the highest costs of electricity in the developed world.

He says those higher costs would erode the competitiveness of businesses in Ontario and pose challenges for low-income households.

The study also says creating 50,000 new green energy jobs as promised by the governing Liberals will require ratepayer subsidies of about $200,000 a year for each position.