Green power prices

The Greens (and Labour) go on about how NZ must become 100% renewable energy, even though we are already over 80% renewable. They want subsidies on wind and solar power.

Well how did this go in Ontario:

Ontario’s Green Energy Act offered so-called “feed-in rates” almost four times existing electricity rates for wind and more than 10 times for solar power. Like bees to honey, wind and solar companies rushed in. By the time the government realized that these subsidies were driving Ontario from one of the lowest to one of the highest power cost jurisdictions in North America, the province had signed myriad 20-year-locked-in-rate-guaranteed contracts that will drive power rates up a further 40 per cent to 50 per cent in coming years.

And it gets worse:

Adding salt to this self-inflicted wound is the reality that much of the green power comes on stream when it isn’t needed. This unneeded electricity is dumped into the United States at bargain-basement prices that Ontario’s Auditor-General found has already cost Ontario power consumers billions of dollars, with much bigger losses yet to come before those 20-year contracts expire.

So Ontario consumers are paying more for their power so US consumers can get cheap renewable energy!