Photo by Linda HeronPhoto Credit

Ivanhoe River – The Chute: Xeneca Response to Foleyet Chamber of Commerce

August 17, 2011:


12. Who is going to pay for the extra cost under the FIT program? With $ .12 for regular power and $.185 for peak power guaranteed for 40 years. There is a considerable price difference between what we pay and what Xeneca will receive. Who is going to pay this difference? The price offered to Xeneca under contract is mixed in with all other sources of generation, including heritage assets that generate at 3 cents per kWh or in some cases less. The mix of both old and new nuclear, gas, biomass, wind, solar etc. will ultimately determine consumer cost. It may noteworthy that while 12 to 18 centre per kWh may seem expensive today, it may seem quite a bargain in 20 years and beyond. Xeneca’s contract is for 40 years.

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