Ontario government's new energy goals good for economy and industry

TORONTO, Aug. 18 /CNW/ - Vale applauds the McGuinty government's new initiative to encourage Ontario's largest electricity users to reduce consumption during costly, peak periods.

"We recognize that industry and government need to work together to achieve electricity conservation targets," said John Pollesel, Vale's Vice-President, Production Services (Canada/UK) and General Manager, Ontario Operations. "This is an important step that will provide businesses with a powerful incentive to manage electricity use more responsibly, particularly on the most critical days of the year."

The government's plan improves business conditions for investment and job creation, by providing price incentives for large companies to reduce electricity consumption during critical peak times, when the stress on Ontario's electricity grid is at its highest. In addition to improving the reliability of Ontario's power grid, the plan has a significant environmental benefit, as reducing electricity consumption during peak periods in the summer will help improve air quality across the province.

"We believe this plan to shift electricity use away from peak periods strikes the right balance of being good for both business and the environment," said Pollesel. "This initiative will help ensure a reliable, affordable electricity supply, providing businesses such as our own with the confidence to create jobs and increase investment in the province."

SOURCE VALE LIMITED

For further information: For further information: Cory McPhee, Vice-President, Corporate Affairs, Vale, Base Metals, 416.361.7669, cory.mcphee@vale.com

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