On July 13, Ontario’s new Minister of Energy, Northern Development and Mines, Greg Rickford announced that the Government of Ontario would cancel and wind down 758 renewable energy contracts. "We clearly promised we would cancel these unnecessary and wasteful energy projects as part of our plan to cut hydro rates by 12 per cent for families, farmers and small businesses," said Rickford in making the announcement. "In the past few weeks, we have taken significant steps toward keeping that promise."
A government statement said that all of the cancelled projects have not reached project development milestones. Rickford also confirmed that the government intends to introduce a legislative amendment that, if passed, would be designed to protect hydro consumers from any costs incurred from the cancellation. The contracts would have created obligations on the IESO to purchase power for approximately 20 years, for a total cost estimated at $790 million.
"For 15 years, Ontario families and businesses have been forced to pay inflated hydro prices, so the government could spend on unnecessary and expensive energy schemes," said Rickford. "Those days are over."