Dear Editor,
TC Energy just scored $285 million of Ontario taxpayers’ money, ostensibly to underwrite its efforts to estimate the costs of its proposed $7-billion pumped storage plant here in Meaford, and to carry out an environmental assessment. You’d think that an Alberta company with a market value of more than $65 billion would be able to do what other companies do, namely, pay for such preliminary work needed to get a contract – in this case, from that same Ontario government. But no. Taxpayers are paying for the company to estimate its own costs. And if the project is built, it will be everyone who buys electricity who will again be the ones paying for the plant itself, over the contract’s expected life of 50 years.
The company has no skin in this game whatsoever. The massive government handout is outrageous.
But there’s more.
When TC Energy held its town hall meetings six winters ago, it pitched the proposal as “green”, a way of cutting emissions, as though taking cars off the road. Later, it was framed as the key to reconciliation because local First Nations would have an ownership share. Now, from the government news release on Jan. 24, we learn it is actually a key component of the planned expansion of Bruce Power’s nuclear plant, which is 48.4 percent owned by TC Energy. It’s all so cozy!! And whose landscape will be destroyed and water put at risk? You guessed it — ours.
All along this has been a business proposition for the company to soak up massive amounts of so-called “excess” electricity from nuclear and then resell it at a higher price, while destroying part of Meaford’s natural surroundings — the municipality’s prime asset.
And just where is that business plan now, with Donald Trump’s tariffs on Canadian energy exports?
This project makes no sense for the economy, for the environment or for us, Ontario’s hard-pressed taxpayers.
Clair Balfour, Meaford
