Province Commits to Green Energy Market Reform

first_img In addition to passing renewable energy regulations, Mr. Dooks said government also passed the Wholesale Market Rules regulation. This allows Nova Scotia’s six municipal utilities to purchase electricity, including renewable energy, directly from suppliers, and allows the export of electricity, including renewable energy, to other jurisdictions. Nova Scotia is setting the standard for renewable energy in Canada. By 2013, almost 20 per cent of Nova Scotia’s electricity will be generated by renewable energy — wind, tidal, biomass, solar and hydro. “Last year, I promised new, renewable energy regulations,” said Energy Minister Bill Dooks. “And today, I am delivering on that promise — by introducing mandatory targets that are some of the most aggressive in Canada.” The new regulations under Nova Scotia’s Electricity Act will change the electricity market in the province for generations to come. By 2013, based on our current system, roughly 400 megawatts a day will come from clean, sustainable energy sources, enough energy to meet the needs of more than 100,000 households. “Nova Scotians want more renewable energy generated in our province,” said Mr. Dooks. “That is why we are going to get cleaner, greener energy to power our homes and businesses and we are going to do it in the most cost-effective way possible.” The regulations call for renewable energy increases of five per cent to the total supply by 2010, and 10 per cent by 2013, on top of renewables already in the system as of 2001. To meet the 2010 target, only independent power producers will be able to bid on new renewable projects. Electricity utilities pay a penalty up to $500,000 a day for failing to meet these targets. Independent power producers welcomed the announcement. “This is excellent news because it will create economic growth for independent power producers as well as environmental benefits and stability in Nova Scotia’s power supply,” said Luciano Lisi, chief financial officer of Cape Breton Power Ltd. Mr. Dooks promised more action in the coming months. “I want to remind Nova Scotians that we are going to do more to support Nova Scotia’s renewable energy industry, and we will continue to look at electricity market reform,” said Mr. Dooks. By spring, Mr. Dooks plans to complete his assessment of additional options for independent power producers to sell green energy, including: A rate for buying energy shortfalls (“top-up”) and selling surpluses (“spill”) Legislation for the retail sale of green energy to industry, municipalities and the public.last_img

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