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Rising cost estimates prompt Ontario to rethink private-sector power project

from Financial Post

The Ontario government has been struck by sticker shock over the near doubling of the estimated cost of a proposed electricity transmission line, a project awarded to a consortium including Enbridge Inc. and a major pension fund, which chalks up the mounting budget to accommodating tweaks to the plan's design and timing. The new $777.2 million estimate for the project's development and construction has prompted the province to review its necessity amid anger over pricey hydro rates and a plan unveiled earlier this year by Ontario's Liberal government to lower bills. more


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