TORONTO, March 5 /CNW/ - The Ontario Energy Board (the "Board") today
granted Abitibi-Consolidated Company of Canada's ("Abitibi") request to amend
its electricity generation licence by changing its qualification from "owner
and operator" of eight hydroelectric generating stations in the vicinities of
Kenora, Fort Frances and Iroquois Falls to "operator" only.
By way of a commercial transaction, Abitibi intends to transfer ownership
of the eight hydroelectric generating stations and associated transmission and
distribution lines to ACH Limited Partnership ("ACH").
The Board also granted an electricity retailer licence and electricity
generation licence to ACH. ACH will be the licensed owner of the eight
hydroelectric generating stations.
The ACH generation licence and Abitibi amendment are subject to a number
of conditions which relate to the closing of the commerical transaction.
The Ontario Energy Board regulates the province's electricity and natural
gas sectors in the public interest. It envisions a healthy and efficient
energy sector with informed consumers, and works towards this vision through
regulatory processes that are effective, fair and transparent.
For more information on the Board, please visit our website at
www.oeb.gov.on.ca or contact the Consumer Relations Centre at 416-314-2455 or
toll-free at 1-877-632-2727.
For further information:
For further information: Paul Crawford, (416) 440-7607