This report examines how scaling back Ontario's plans to develop renewable energy would affect electricity prices, using an integrated energy system simulator to compare two main scenarios.
The first scenario is based on Ontario's current Long-Term Energy Plan, in which a large part of new electricity generation comes from additional renewable capacity supported under the Green Energy Act; the second scenario tests the effect of eliminating the Act and largely expanding natural gas in place of future renewable resources.
Behind the switch: pricing Ontario electricity options finds that Ontario consumers would see virtually no relief from high electricity prices if the province cancelled its support for renewable energy under the Green Energy Act.
In fact, the study indicates that investing in renewable energy today is likely to save Ontario ratepayers money within the next 15 years, as natural gas becomes more expensive and as the cost of renewable energy technology continues to decrease.
