Wednesday, November 24, 2010

Hydro Rates to Double


The average electricity bill will double in Ontario over the next 20 years under an $87-billion plan to modernize the province's electricity system.

The Liberal government's energy plan, released Wednesday, calls for $33 billion in investments by government and the private sector to build two new nuclear reactors and refurbish 10 older units.

The plan also calls for $14 billion to be spent on wind power, $9billion on solar energy, and $4.6 billion on new hydro-electric projects.

Conservation programs are getting a $12 billion commitment.

The plan confirms Ontario's intentions to keep getting half of the province's electricity from nuclear generation and to phase out coal-fired generation, including at Ontario Power Generation's plant in Thunder Bay, by 2014 at the latest.