September 24, 2010

Ontario Hydro Rates: The (Financial) Half-Life Of Nuclear

By admin

For any of you out there that pay for your electricity, expect to see a big jump in rates both in the short term and the long run.

Most of the head-in-the-sand types would argue that it’s because of the rates that are being paid to renewable sources.  The truth of the matter is that this is the only thing that the province seems to be doing right.

Others would point out that we’re being hi-jacked by profiteers that would continue to gouge the public and industries of Ontario if the Ontario Power Authority were to be privatized.  This cannot be tolerated.

We’ve also been hearing (and, more importantly, reading on our statement) for several decades a good chunk of our monthly payment goes to debt reduction.  Remember that this debt was incurred in the 1960s and 70s when nuclear power plants were built for the province.  Many of these projects were never completed and still many remain unproductive.  Some are even paid to not operate and deliver energy.

At the core of all of this is the reality that the people in Ontario have been ripped off by nuclear for the past 3 decades as a result of inefficiencies, failed promises and a half-life for waste that will enter the tens-of-thousands of years.

The people of Ontario need to demand an investigation into power generation in this province and why we’re still paying for product that has never worked.  We should go far as to consider a class-action lawsuit against the builders of Bruce and Pickering plants, even if that includes the AECL.

The people of Ontario deserve better management of their electricity source.

If we don’t get it, our digital infrastructure, along with other industries, will suffer greatly from this mismanagement.