Friday, July 12, 2024

Reader’s Thoughts on IESO Imposing Fine on TC Energy

Dear sir,

I note that on Oct. 19, Ontario’s Independent Electricity System Operator (IESO) imposed a fine of $3.72 million on TransCanada Energy Ltd (TCE) for “multiple breaches” of their rules including “providing misleading information”. More information is available from the article “IESO Issues Sanctions to TransCanada Energy Ltd.” on the IESO website at:

https://ieso.ca/Sector-Participants/IESO-News/2023/10/IESO-Issues-Sanctions-to-TransCanada-Energy-Ltd

Specifically, the IESO determined that TCE had made submissions that “were not true, correct and complete to the best of its knowledge, based upon the information available to it at the time” and that TCE submissions were “knowingly and recklessly misleading or deceptive”. It added that “TCE’s conduct” regarding its submissions “was a highly aggravating factor in the IESO’s assessment of penalty”. These details of the findings can be found at:

https://ieso.ca/en/Sector-Participants/Market-Oversight/Compliance-Enforcement/Sanctions

I realize that TCE has been lobbying hard to gain acceptance of its proposed project on Georgian Bay, and that the Meaford council was persuaded to express support for the project. I wonder if this finding of TCE providing material that was “knowingly and recklessly misleading or deceptive” will lead to a more skeptical re-evaluation of the claims that TCE has made to the people of Meaford, and to the council, about the safety of the project, the supposed benefits to Meaford, and the way the project will actually be carried out if approved to go ahead.

Yours sincerely,

(Dr.) David Fraser, Vancouver & seasonally Meaford

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