Seeking Alpha

Gore praises Ontario's plan to ban coal, but electricity costs keep climbing

  • Al Gore praised Ontario Premier Kathleen Wynne in Toronto today after she announced legislation to ensure that once the last coal-fired plant closes next year it would be illegal to generate electricity by burning coal.
  • But Ontario's electricity consumers are "getting burned," Tom Adams writes in the Financial Post; Ontario's power rates soon will surpass the highest of any state in the contiguous U.S., and the root cause of the "cancer" started with the coal phaseout that began a decade ago, he says.
  • It's true that Ontario's carbon production has dropped dramatically, but closing the coal plants and going green had nothing to do with it, Terence Cook adds in another FP piece; he says the province reduced carbon emissions by rebuilding and refurbishing seven nuclear power plants.
  • ETFs: KOL, NLR, NUCL.
Comments (9)
  • nemonemo
    , contributor
    Comments (324) | Send Message
     
    And this is from Al Gore: http://bit.ly/1jqFgs1 (Pervert was US VP).
    21 Nov 2013, 07:41 PM Reply Like
  • ebeuu
    , contributor
    Comments (372) | Send Message
     
    Gore is still in fantasy-land;
    No wonder he needed heat of women to keep him warm.
    21 Nov 2013, 07:42 PM Reply Like
  • User 509088
    , contributor
    Comments (1213) | Send Message
     
    this thread is like something from the daily crawler.

     

    the root cause of the "cancer" was an out of control Ontario Hydro and an enabling conservative premier, and a wave of privatisation.

     

    certainly the fp's piece is on factual solid ground regarding the nuke plants. it's common knowledge that refurbishing nuke plants cuts it's carbon emissions. ARF ARF ARF.
    21 Nov 2013, 07:56 PM Reply Like
  • smart_investoor
    , contributor
    Comments (228) | Send Message
     
    They want clean energy, how about building more nuclear plants. it is safe and cheap since uranium prices all time low. This can be reflected back to consumers with cheaper rates. no rocket science here, people are forced to pay high prices because of dumb and idealistic people governing the province.
    21 Nov 2013, 08:17 PM Reply Like
  • Mike Maher
    , contributor
    Comments (2724) | Send Message
     
    Capital costs of nuclear are incredibly high. Not sure how the Canadian electricity market works, or if there is enough natural gas flowing into the city (I'm fairly sure there is) but in the US combined cycle nat gas plants could be built in 2 years vs 6 (at least) for new nuclear and at roughly 1/4 of the cost.
    21 Nov 2013, 08:33 PM Reply Like
  • smart_investoor
    , contributor
    Comments (228) | Send Message
     
    Ontario government cancelled the gas plants and incurred around 1 billion in cost. When you don't want a power plant in your back yard, you should be prepared to pay more for electricity. even though time to built and initial costs are higher, over the long term it is best choice. that's what china is doing now.
    21 Nov 2013, 09:44 PM Reply Like
  • Mike Maher
    , contributor
    Comments (2724) | Send Message
     
    If ppl dont want the gas plants in their neighborhoods I cant imagine they like the idea of nuclear plants
    21 Nov 2013, 10:56 PM Reply Like
  • C.N
    , contributor
    Comments (222) | Send Message
     
    when your assets are worth over 300 million, you can get away being a little naughty. Elon Must rejected his offer when he tried to get into TSLA.
    21 Nov 2013, 08:24 PM Reply Like
  • SoldHigh
    , contributor
    Comments (1013) | Send Message
     
    This is the Green objective - forcing people to pay higher prices while yielding ZERO benefits to the environment.

     

    Terrorists having NOTHING on this vile pack of economically-destructive, self-righteous Greenies!
    22 Nov 2013, 12:48 AM Reply Like
DJIA (DIA) S&P 500 (SPY)
ETF Hub
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs