In his 460-page annual report to the Legislature released Monday, McCarter castigated policies that were a cornerstone of McGuinty’s re-election in the Oct. 6 vote, including Grit claims of 50,000 green jobs being created.Your grandchildren will be paying for this Liberal folly.
The controversial Samsung deal, which will pay the South Korean consortium $110 million over 20 years over and above the already hefty FIT premium in exchange for $7 billion in investment, was done with “no formal economic analysis … to determine whether the deal was prudent.”
The auditor general found billions of dollars in solar and wind projects were approved without appropriate oversight, including and regulatory and planning procedures.
McCarter found the feed-in tariff program (FIT), which pays a premium to generators of green electricity, will add $220 million a year to hydro bills.
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