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Consumers to face higher power prices

Moneyville
November 15, 2011

Ontario’s local electric utilities need “billion and billions” of dollars in investment, and will be seeking higher prices to raise the money, says the head of the utilities’ association.

Electricity consumers have already been bracing for higher prices as more costly forms of generation come on line.

Proposed new nuclear plants will need higher prices, as will new energy from renewable power sources.

Now, Keech says the wires system needed to deliver the power will also need significant investment. The current system isn’t designed to handle power from multiple, relatively small sources scattered all over the province.

It also needs to upgrade to get ready for widespread use of electric vehicles.

Among its recommendations, the association says the province should consider merging the Ontario Power Authority and the Independent Electricity System Operator into a single unit.

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