‘Money for Nothing’

If Ontario’s power system under Premier Kathleen Wynne and her predecessor, Dalton McGuinty, has a theme song, it would be the 1985 Dire Straits hit Money for Nothing.

If Ontario’s power system under Premier Kathleen Wynne and her predecessor, Dalton McGuinty, has a theme song, it would be the 1985 Dire Straits hit Money for Nothing.

Through poor planning and political interference with their own experts, the Liberals have created a perfect storm, generating a chronic surplus of expensive, unneeded electricity they have to sell at a loss to the U.S. and Quebec.

Paying for those losses helps drive up electricity rates, the opposite of a normal market in which prices drop if supply exceeds demand.

Given this, the Liberals routinely pay power generators not to produce electricity.

Hence, money for nothing, paid by taxpayers and hydro ratepayers.

More…

(Visited 2 times, 2 visits today)