Ontario's Progressive Conservative government has cancelled plans to build three hydroelectric generating stations in the Peterborough area, each of which was expected to cost at least $20 million to build.

The proposed projects were expected to be built alongside Lock 24 in Selwyn, Lock 31 in Buckhorn and Lock 25 near Lakefield.

The provincial government announced Friday it was cancelling 758 renewable energy contract, Canadian Press reported, in an effort to reduce electricity bills in the province.

Although most of the projects were for the generation of solar power, 15 were for hydroelectric power-generating facilities in Southern Ontario.

Peterborough Utilities Inc. was going to build two of them – at Lock 24 in Selwyn and Lock 31 in Buckhorn – with Curve Lake Economic Development Corp. as an investor in the project.

Each of these two facilities was expected to cost about $20 million to build, The Examiner reported in 2016, and together might have generated renewable energy for 2,600 homes.

Construction on these projects was expected in 2019; there had already been a series of public meetings on the proposed plans.

The planned hydroelectric generating facility at Lock 25 would have been located about two kilometres south of Lakefield.

Bawatik Power Corp., a company jointly owned by Orillia Power and the Shaman Power Corp. of Toronto, was expected to cost between $20 million and $24 million to build. It was expected to be built sometime in 2020 or in 2021.

The Examiner reported in 2015 it would have been expected to generate enough electricity to power about 2,400 homes.

Energy Minister Greg Rickford said Friday that the cancellation of the 758 contracts will save provincial ratepayers $790 million – a figure industry officials dispute, saying ti will mean job losses for small business.

But Rickford said Friday it will be a money-saver for people.

"For 15 years, Ontario families and businesses have been forced to pay inflated hydro prices so the government could spend on unnecessary and expensive energy schemes," Rickford said. "Those days are over."

On Monday, the Ontario Waterpower Association (OWA) – which has its offices in Peterborough – expressed disappointment in the government's decision to cancel the projects.

"While I understand and appreciate the government's concerns about electricity costs, the affected waterpower projects are scheduled to come online just when the province will face a shortage of electricity," stated Paul Norris, president of the OWA, in a press release (he wasn't available for interview).

"Made in Ontario waterpower is the backbone of a reliable, affordable electricity system and is strongly supported by the Ontario public.… I urge the government to consider the multiple benefits that these waterpower facilities can provide well into the future."

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— with files from The Canadian Press