Ontario cancels sale of Hydro One stake

21 January 2003 - Ontario has cancelled plans to sell a minority interest in Hydro One, the government-owned power grid, signalling the end of the provinces plans to introduce electricity deregulation.

A court decision last year blocked plans to sell the entire transmission operation in what would have been Canada's biggest initial public offering. The government has said that it had sought a partner for the 49 per cent stake but that it was not prepared to relinquish control over key decisions affecting consumers.

"We want to bring private-sector discipline to Hydro One, but not at the expense of protecting consumers," Eves said in the statement. "Last November I announced a plan to lower your hydro (electricity) bill and we are sticking to that plan."

Ontario's government announced in November it would freeze electricity prices and hand cash back to angry consumers whose costs had soared during five months of highly unpopular deregulation � a policy devised and implemented by Eves's predecessor, Mike Harris.

Sponsored by FLSmidth

Related Articles

Rhode Island Governor signs renewables energy legislation

Rhode Island Gov. Lincoln Chafee has signed renewable energy legislation, Affordable Clean Energy Security Act, that includes provisions to advance regional development.

Center Hill tests new units for 135-MW hydro project

U.S. Army Corps of Engineers officials determined that a Voith Hydro scale model turbine met or exceeded requirements for replacement hydropower turbines at 135-MW Center Hill Dam in Tennessee.

Follow Power Engineering on Twitter

Products Showcase

Dynamic Fluoride Ion cleaning DFIC of industrial natural gas turbines Hi-Tech Furnace Systems

Dynamic Fluoride Ion Cleaning of IGT Parts

The Dynamic Fluoride Ion Cleaning (DFIC) Process from Hi-Tech Furnace Systems is able to clean deep, narrow cracks of oxides by cycling between negative, atmospheric, and positive pressure.

Latest News

Shutterstock coal production trucks

Weekly Coal Production

The Weekly Coal Production shows how much coal is being produced across the U.S.

Federal Reserve Bank of Dallas Weekly Economic Indicators financial business

The Federal Reserve Bank of Dallas' Economic Indicators

The Federal Reserve Bank of Dallas offers a glimpse into how the markets are doing domestical...

Kvaerner awarded contract for gas-fired power plant in Delaware

Kvaerner North American Construction Inc. and its joint venture partner, Parsons Brinckerhoff...

Canadian Solar purchases two solar projects

Canadian Solar Inc. has acquired a majority interest in two utility-scale solar power project...

Operators Restart Unit 2 at PPL Susquehanna

Unit 2 at the PPL Susquehanna nuclear power plant near Berwick, Pa. resumed generating electr...

Settlement agreement limits cost recovery at Edwardsport

The Indiana Utility Regulatory Commission (IURC) on Dec. 27 modified and approved a settlemen...

Toshiba in talks to sell portion of Westinghouse nuclear unit

Toshiba Corp is in talks  to sell up to 16% of its stake in the Westinghouse Electric Co...

Utah nixes nuclear waste storage facility

Plans to park radioactive waste at a storage facility in Utah have been officially called off.

Archived Articles

2000 | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013

Buyers Guide Categories

Power Engineering Current Issue

10/01/2014
Volume 118, Issue 10
1410pe-cover

Buyers Guide Product Listings

BE1-25A Automatic Synchronizer

Provides precise synchronization with multiple ...

Buyers Guide Company Listings

Sequoia Scientific Inc

Sequoia Scientific, Inc. manufactures instrumentation for silt and sediment monitoring in hydropower plants and rivers.

Voith Hydro Services

Voith Hydro Services is a leader in hydro electric turbine repairs, rehabilitation and restoration. Servicing all types of runners, sizes and turbines makes with parts, on site repairs and services.

National Hydropower Association

Dedicated to advancing the interests of the North American hydropower industry. Membership includes public and private hydro generators, equipment suppliers, service providers, consultants and law firms.

Zeco Hydropower Srl

Power Industry Wire News

Hula Partners Names Luke Marson as Chief Cloud HCM Architect

Hula Partners Names Luke Marson as Chief Cloud HCM Architect

Shipments of Princeton Power Systems' GTIB Converter Product Line Surpass 50 Megawatts

Shipments of Princeton Power Systems' GTIB Converter Product Line Surpass 50 Megawatts

The 2.4 Million Reasons We're Flying the Flag for Lung Month

The 2.4 Million Reasons We're Flying the Flag for Lung Month

CyberFuels, Inc. "Singular 96(TM)" Certified by California Independent Laboratory for Measures of MPG, Performance, and Environmental Impact

CyberFuels, Inc. "Singular 96(TM)" Certified by California Independent Laboratory for M...

Midwest Energy Emissions Corp. Announces 2014 Annual Meeting of Shareholders, and Business Update Meeting

Midwest Energy Emissions Corp. Announces 2014 Annual Meeting of Shareholders, and Busin...

Power Engineering

Article Archives for Power Engineering Magazine

Continuing Education

Professional Development Hours

To access a course listing associated to a specific topic listed below, click on the topic of choice from the list below.

Latest Energy Jobs

View more Job Listings >>


Power Engineering Newscasts

EPA chief: carbon caps will boost economy
Australia, Russia enter nuclear power agreement with Argentina
Largest battery energy storage in North America now operational
EPA chief: carbon caps will boost economy Largest battery energy storage in North America now operational Australia, Russia enter nuclear power agreement with Argentina Texas’ Panda Temple combined cycle plant up and running
Siemens agrees to acquire Dresser-Rand
Safety concrete poured at UAE nuclear reactor power project
Foster Wheeler to upgrade natural gas-fired power plant’s emission controls
GE, TransCanada partner on natural gas turbine design
Energy storage global market to grow to $15.6B by 2024; DOE awards $2M to support taller wind turbine towers; Hinkley Point C nuclear project have financial incentives approved; N.J. company building waste-to-energy project in Ireland