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Total spending for “unreliable and intermittent”: $21.4-billion

Our third category is “photo-op generation,” money spent on large hydro infrastructure projects producing little power but presenting politicians with great photo-ops.

Big Becky hydro power expansion, which went $600 million over budget to squeeze 150 MWs of capacity from Niagara Falls. $1.5 billion

Mattagami hydro power project, originally estimated at $1.6 billion to increase the rated capacity by 438 MW, went over budget by $1 billion. Before these two hydro projects were completed, OPG produced 30.6 TWh (terawatt hours) of hydro generation. Despite the addition of 588 MW of capacity, hydro generation in 2016 fell to 29.5 TWh. Generation data from March 21st indicates Mattagami generated power at about eight per cent of rated capacity, while all other hydro was operating at an average of about 50 per cent of rated capacity. $2.6 billion

Total spending for “photo-op generation”: $4.1-billion

The fourth category is “value for money.” Some of the claimed investments in generation actually provided some value.

The Bruce Nuclear refurbishment of two units came at a cost of $4.8 billion but, according to Ben Chin, former VP of the Ontario Power Authority, the cost to ratepayers was limited since shareholders were forced to accept a portion of the over-budget costs. $3.4 billion

Grand total to the end of 2016: $36.3 billion

This estimate comes reasonably close to the $35 billion claimed by the energy minister. But more spending is in the pipeline over the next 18 months, including another 500 MW of wind capacity with an estimated capital cost of $1.1 billion, 100 MW of solar for $300 million and 1,300 MW of gas at a rough cost of $900 million.

Total for what’s still to come: $2.3 billion

Even if one includes the money still to be spent, the total investments (most of them wasted) are over $11 billion shy of the $50 billion Wynne claims has been spent.

We need to see Thibeault’s accounting, and Wynne’s too, to allow Ontario’s taxpayers and ratepayers to determine whether the spending has provided the claimed value for tax dollars.

Parker Gallant is a retired bank executive who looked at his power bill and didn’t like what he saw.