Ontario’s $2 Billion Smart Meter Rip-Off! (For the full story visit newsforontarioninetyninepercent.ca/ontarios-2-billi…/) Ontario’s $2 billion smart meter program for hydro utilities has delivered few benefits for the hefty cost, says Ontario’s Auditor-General Bonnie Lysyk. In fact, one in six of the 4.8 million meters have not yet transmitted any readings, she found. Smart meters allow utilities to charge different prices at different times of day, a function that’s supposed to encourage conservation, especially at peak times when the system is under stress. But Lysyk said the pricing system has had only “a modest impact on reducing peak demand” among householders and “no impact at all on energy conservation.” Among her findings: • Smart meters were supposed to cost $1 billion. In fact, the total cost will be double that amount at $2 billion. • The Ontario energy ministry grossly over-estimated the benefits of the smart meter program. It figured the benefit would be $600 million over 15 years. But it forgot to include a yearly inflationary increase of $50 million. That reduces the net benefit of the huge project to $88 million over 15 years - $512 million less than original net benefit estimate. • The cost of smart meters varied wildly among Ontario’s 73 local utilities, which paid from a low of $88 per meter to a high of $544. “Given the large scale of smart metering and the high risk associated with new technology, the smart meter program implementation should have warranted strong governance and oversight,” Lysyk wrote. The Ontario Liberal government failed to provide this oversight and all Ontarians are paying for it on their hydro bills Heads need to roll on this starting with the Minister of Energy, Bob Chiarelli! (This is an abridged version of this story only. For the full story visit newsforontarioninetyninepercent.ca/ontarios-2-billi…/)
Posted on: Sun, 04 Jan 2015 21:27:02 +0000
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