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Tuesday, June 4, 2019

PC's decision to scrap green energy projects bites Orillia Power

Orillia | by Bayshore News Staff  

Local utility took a financial bath when the Ford government cancelled hundreds of renewable energy projects.

The Ford government's decision to pull the plug on renewable energy projects last summer ended up costing Orillia Power $2 million.

OPC had a big stake in the development of waterpower generating station on the Trent Severn Waterway near Peterborough.

It was scrapped when the PC's backed out of energy contracts signed with the previous Liberal government.

Despite the hit,  the utility was able to return an $800,000 dividend to the City, while at the same time continuing to upgrade its capital infrastructure.

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