As it scrambles to quickly secure more power for Ontario’s grid, Premier Doug Ford’s government is going to guarantee payment to new carbon-intensive natural gas plants, even in the event they are shut down to lower emissions.
1,500 megawatts of new natural gas generationHis ministerial directive specifies that if there is a future law requiring the plants to capture all their carbon emissions — like the federal government is currently proposing — but they can’t do so and have to close, they’ll get paid anyway.
As we transition away from fossil fuels, virtually everything from transportation to heating to manufacturing and mining will have to switch to running on electricity. The hope is that these new plants can be retrofit in the future to eliminate their emissions with carbon capture — a largely unproven and untested technology.
“If a project is unable to comply with such laws or regulations,” the contract will “allow such project to suspend operations for the balance of the contract term while retaining payments under the Contract,” Smith states in the directive. These kinds of guarantees are necessary to convince investors to build in the face of uncertainty around the CES, as well as the possibility that the carbon tax could be extended to electricity generation , said David Butters, president and CEO of the Association of Power Producers of Ontario.
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