There has been a little bit of inconclusive case law on the degree to which a federal law can bind provinces, but most of the cases say that if a federal law is passed within the scope of a federal power, it can be binding on the provinces.
Take, for example, the GST legislation, which did not impose a GST on the provinces but did impose on the provinces the obligation to collect the GST for the federal government when people were engaged in the supply of services that would otherwise require the collection of the GST. Alberta objected to that. It was challenged and went to the Supreme Court of Canada. The Supreme Court of Canada said that when Parliament was exercising its taxing power, it could impose obligations on the provinces.
Now, that's a rather trivial example, because this doesn't come up very often about the federal Parliament. But if the bill were constitutional--and I'm saying that in its present form it is not, but if it were constitutional--then yes, I believe it could close down Ontario's coal-fired electricity generating stations.