Energy in the News – August 11, 2017
Hospital Association cries foul over rising hydro costs. St. Thomas Times-Journal. August 10, 2017.
The Ontario Hospital Association says Ontario’s hospitals can’t keep up with rising hydro costs as funding increases have stalled over four consecutive years. Through Freedom of Information requests, the Canadian Taxpayers Federation discovered that Ontario hospitals’ electricity bills have soared over the last five years.
$24M in cap-and-trade cash to fund green job training in Ontario. CBC News. August 10, 2017. The province is committing $24 million from the cap-and-trade program to training centres looking to develop programs focused on training highly skilled workers for low-carbon building jobs.
City settles with mines on tax appeals. Timmins Press. August 10, 2017. Timmins city council has approved a new agreement with Goldcorp for a new taxation deal — a deal that is expected to give a break to residential property taxpayers.
McEwen Mining acquires Black Fox Mine from Primero. Northern Ontario Business. August 10, 2017.
McEwen Mining will acquire Timmins’ Black Fox Mine from Primero Mining in a deal worth $35 million. In a news release, McEwen said the transaction fits in with additional acquisitions the company has made in the Timmins camp.
Politics & Opinion
Ontario PCs initiate probe into Quebec power purchase. Toronto Sun. August 10, 2017. PC Finance Critic Vic Fedeli asked the province’s fiscal watchdog to probe Ontario’s 2016 purchase of hydro from the Quebec government. Fedeli said the FAO has agreed to look at the deal and will report back in four months.
A closed-doors deal with Hydro-Québec isn’t Ontario’s electricity. The Globe and Mail. August 9, 2017.
Columnist Konrad Yakabuski notes Energy Minister Glenn Thibeault had already rejected the Hydro Quebec deal before the leaked report was released. Yakabuski argues the deal is not the right way to go and recommends Hydro Quebec should compete with local power suppliers to help meet the demand when the Pickering nuclear plant goes offline.
Hydro One’s takeover of Avista is a big negative for Ontarians. Financial Post. August 10, 2017. The Fraser Institute’s Parker Gallant believes the acquisition of Avista will mean a dilution of the province’s holdings in Hydro One from 49 per cent to 44 per cent, as well as add a borrowing program to the utility.