Doug Ford promises to pay for carbon-emitting electricity — even after it’s banned | The Star
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Alex Cameron
Oct 22, 2022, 5:16:07 PM10/22/22
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carolchrissy carolchrissy
Oct 23, 2022, 10:25:05 AM10/23/22
to Alex Cameron, ECA Google Group
Yes I saw this article Alex,
this is disgusting! First of all the complete side swipe of the climate crisis by pilling on more gas plants. Then the utter disregard of hard-earned taxpayer dollars to guarantee the financial payout to the gas plants whatever climate regs may happen going forward. It's completely irresponsible on both counts.
What the?
Carol
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Subject: [ECA] Doug Ford promises to pay for carbon-emitting electricity — even after it’s banned | The Star
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John Stephenson
Oct 24, 2022, 6:43:00 PM10/24/22
to carolchrissy carolchrissy, Alex Cameron, ECA Google Group
ha-ha-ha .,. yes we are all disgusted,. but it's actually the decision to build more gas plants that is disgusting ,,, in order to execute that plan one can readily imagine that it would be necessary to in effect protect proponents from changes in law .. I was involved in negotiating quite a few contracts for gas plants and I recall that a "change in law" clause was always in it ... in this case it's a logical step from the commonly used force majeure clause that basically says we have the right not to fulfill our obligations if something prevents it that is out of our control, so then the question is "how do we repay our lenders and investors?" and if there is not a good answer to that then likely they would get no bids ... which is what we want, but not what the government wants ... in conclusion I fault the government for deciding to build more gas plants but having made that decision I can see they had little choice but to include this offer which is in effect an indemnification against possible changes in law
To view this discussion on the web visit https://groups.google.com/d/msgid/etobicoke-climate-action/e7e954c.118.184053b717e.Webtop.35%40sympatico.ca.
John Stephenson
Director - Boltzmann Institute
2493 Lakeshore Blvd West, Apt 416
Etobicoke, ON
M8V 1C7
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