Canada Ford government's plan to cancel wind project could cost taxpayers over $100M, company warns

01:07  12 july  2018
01:07  12 july  2018 Source:   cbc.ca

Doug Ford's government lays out its agenda today in Ontario throne speech

  Doug Ford's government lays out its agenda today in Ontario throne speech The Ford government's first speech from the throne comes Thursday at 2 p.m. ET, delivered by Lt.-Gov. Elizabeth Dowdeswell. The speech will lay out Ford's priorities, which are expected to match the themes of his successful election campaign. So, what will he do for an encore?

The government ' s failure to support the construction of carbon capture and storage projects will cost taxpayers billions of pounds, the public accounts committee has warned . The setback is leading to 'a major gap' in the government ’ s plan to reduce carbon emission by at least 80 per cent by 2050.

Companies . Entrepreneurship. Technology of Business. PFI projects will cost the taxpayer a further £199bn by the 2040 s , it said. "Small changes to the cost of capital can have a significant impact on costs ," the report said. "Paying off a debt of £ 100 m over 30 years with interest of 2% costs £34m in interest.

a man wearing a suit and tie: The Ontario government said this week one of their top priorities will be to scrap a near-complete wind project in Prince Edward County. © Tijana Martin/Canadian Press The Ontario government said this week one of their top priorities will be to scrap a near-complete wind project in Prince Edward County.

The president of a wind power company says cancelling an eastern Ontario project that has been under development for nearly a decade could cost more than $100 million.

The Ontario government said this week one of its priorities in the coming weeks will be to scrap the White Pines project in Prince Edward County.

The president of WPD Canada, the company behind the project, says the move could lead to costly litigation.

Progressive Conservative house leader Todd Smith has said the legislation to cancel the project will also insulate taxpayers from domestic litigation over the dismantling of green energy projects.

Ontario's Independent Electricity System Operator gave the final approval for the project during the spring election campaign, which the new government says should not have happened.

The project, which is close to completion, was initially approved in 2009. It includes nine wind turbines meant to produce enough electricity to power just over 3,000 homes annually.

Hydro One Continues to Slide as the Company Faces a Lot of Uncertainty Under the New Government .
Hydro One Continues to Slide as the Company Faces a Lot of Uncertainty Under the New GovernmentLoad Error

Source: http://ca.pressfrom.com/news/canada/-83243-ford-governments-plan-to-cancel-wind-project-could-cost-taxpayers-over-100m-company-warns/

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