The province has introduced legislation that would repeal the Green Energy Act.
In a Sept. 20 news release issued from the Ministry of Energy, Northern Development and Mines, the province said the legislation would “fully strike the Green Energy Act from the province's books.”
That includes the Feed-in Tariff Program, which provided residents and businesses with grants to help offset the costs of installing renewable energy projects, and provisions that allowed the province to overrule municipalities when it came to permitting those projects to be built in their jurisdictions.
"The Green Energy Act represents the largest transfer of money from the poor and middle class to the rich in Ontario's history," Energy Minister Greg Rickford said in the release.
"Well-connected energy insiders made fortunes putting up wind farms and solar panels that gouge hydro consumers in order to generate electricity that Ontario doesn't need. Today we are proud to say that the party with taxpayers' money is over."
No details were provided on whether existing power contracts developed under the Feed-in Tariff program would be honoured.
But the province said the legislation would stop approvals on new projects “where the need for electricity has not been demonstrated.”
According to the province, 26 per cent of electricity generated from wind and solar was curtailed or wasted in 2017.
Citing the Ontario Energy Board and the Independent Electricity System Operator, the province also said wind and solar projects added $3.75 billion to electricity bills last year.