Ontario to cancel energy contracts to bring hydro bills down
July 19, 2018 — The Government of Ontario has decided to cancel and wind down 758 renewable energy contracts.
Ontario Minister of Energy Greg Rickford also said the government intends to introduce a legislative amendment that, if passed, will protect hydro consumers from any costs incurred from the cancellation.
Even after the costs are accounted for, the province says ratepayers can expect $790 million in savings.
The cancelled projects have not reached project development milestones. According to the Ontario government, terminating the projects at this stage will maximize benefits for ratepayers. A list of the projects to be cancelled can be found here.