This is exactly what has happened in Ontario. But a lot of that has come from boneheaded contracts that the government signed, which guaranteed payment for cap

This is exactly what has happened in Ontario. But a lot of that has come from boneheaded contracts that the government signed, which guaranteed payment for capacity, not usage. So the more demand falls, the more we pay per kWh, because the hydro companies are getting paid whether they actually generate power or not. The excess power is then exported for much less than what they're charging residents for it. Edit: Better in-depth look: https://www.theglobeandmail.com/news/national/why-does-electricity-cost-so-much-in-ontario/article33453270/ https://www.theglobeandmail.com/news/national/why-does-elect...