2025-Jan-31
Ford Government Allocates $285M to Advance TC Energy Pumped Storage Project
The Ford government is using $285 million in taxpayer money to advance the TC Energy pumped storage project in Meaford. This project aims to provide up to 1,000 megawatts of energy storage by pumping water from Georgian Bay into a reservoir during off-peak hours and releasing it back into the Bay to generate electricity during peak demand.The $285 million investment will cover the project’s pre-development costs, including the completion of a detailed cost estimate and environmental assessments. Save Georgian Bay, a vocal critic of the project, argues that this is a normal business expense that TC Energy, a company with a market value of $71 billion, should cover itself.
GBA has expressed concerns about the potential environmental impact of this project on Georgian Bay’s freshwater resources, including water turbidity, habitat destruction, and possible contamination from toxins found on the Department of National Defence site. While Saugeen Ojibway Nation, the Municipality of Meaford, the city of Owen Sound and Grey County Council are supportive of the project, five Georgian Bay municipalities,
the Township of Georgian Bay, Township of Archipelago, Parry Sound, and the Municipality of McDougall have passed resolutions opposing the project. In addition, Ontario’s energy regulator, the Independent Electricity System Operator (IESO), has twice rejected the proposal, citing its lack of net economic benefits to provincial ratepayers and the availability of more cost-efficient alternatives like large-scale battery storage.
Despite these concerns, the government claims the project will contribute $6.2 billion to Ontario’s GDP over 50 years and support over 1,700 construction jobs. The province will make a final decision on the project after completing a detailed cost estimate and environmental assessments.
Read the press release here.
Learn more about the pumped storage project here.