The Ontario Government has announced its updated Long-Term Energy Plan, which is a 20-year plan designed to set the course for a clean energy revolution in the province.
Under the terms of the plan, Ontario plans to close all coal units by 2014 and fast-track the closure of two more coal units in 2011, three years ahead of schedule; create 50,000 clean energy jobs; increase the province's power supply coming from renewable sources to 13% by 2018 (up from 3% today); and move forward immediately with five priority transmission projects to bring more clean power online, serve changing demand and ensure reliability.
Electricity bills are forecasted to increase by 3.5% annually over the next 20 years, and industrial rates are forecasted to increase by 2.7% annually over the same timeframe. The government notes that it plans to take 10% off monthly electricity bills for families, farms and small businesses starting Jan. 1, 2011, under the proposed Ontario Clean Energy Benefit. It will also move the time-of-use off-peak period for electricity to 7 p.m., which will provide an additional 10 hours every week in the lowest-cost period, and potentially expand the Energy and Property Tax Credit.
SOURCE: Ontario Government
