Instead of a bill from my local electrical utility I got a rebate cheque courtesy of the Ontario Government. They are "rolling back" electricity rates to 4.3¢ kWh and capping them at the retail level until 2006. Hmmm, California all over again. Ontario was "opened up" its electrical energy market in May of this year, and, surprise, surprise, the rates skyrocketed. Let's see if I can summarize:

Simple economics would imply that prices would rise. Are politicians that dense? If they had opened the market in March, cheap hydraulic generation could have been had from the spring runoff. Demand would be down because the days are longer and not so cold; yet, it hasn't got too hot either. Prices might have even gone down for a short while. Anyway, electricity rates have been transferred from the ratepayer to the taxpayer through this capping scheme.

One piece of advice I remember giving last spring to someone regarding a contract with an energy marketer for fixed electricity rates for n years. I said wait for a year or so before signing and see what may happen with the market. That legislated 4.3¢ cap is much better than any energy marketer rate I've seen, plus, it has been made retroactive to the market opening in May! Come election time, expected in 2003, the current Conservative government has some splainin' to do.