Ontario Premier Kathleen Wynne, confronted with persistent complaints about her government’s costly Green Energy Act and regular hikes in power bills, now faces the possibility the cap-and-trade system announced in June may not produce the hoped-for revenue bonanza. Recent auctions have produced far less interest than expected. An auction in May saw only 11 per cent of allowances sold; the latest round of bidding, just this month, saw 35 per cent of the allowances sold. Ontario has budgeted for about $2 billion annually from the auctions but can’t hope to reach that figure if the trend continues.
No comments:
Post a Comment