Ontario's Energy Rate Increase is a Much-Needed First Step



    TORONTO, Nov. 30 /CNW/ -

    
    What: Ontario Power Generation's (OPG) anticipated application for a
          rate increase on energy from its regulated nuclear and
          hydroelectric facilities is an essential step toward setting the
          Ontario energy market right.

          At present, Ontarians pay less than market value for the
          electricity they use in their homes and businesses. Unfortunately,
          these low prices come with a high cost. OPG is not taking in enough
          revenue to phase out dirty coal-fired power plants, or to invest in
          the stability of our electricity supply so we can remain confident
          that the lights will come on every time we flip the switch.

          Energy prices that reflect market value are essential to provide
          clean, stable, secure and long-term power in Ontario. But instead,
          Ontario's pricing regime is an impediment to security of supply and
          to meaningful conservation efforts.

          Prices that more accurately reflect the market value of power -
          including the cost to mitigate the environmental effects of
          producing and using power - are an essential step toward getting to
          a rational, market-based energy marketplace in Ontario.

          While Direct Energy wholly supports subsidizing low-income
          households through funded conservation programs to help reduce
          consumption, perhaps it is time to end Ontario's reliance on
          subsidized energy. The answer is not to artificially subsidize the
          cost of energy today, or to defer the burden to our children to
          deal with in the future; it's about reducing consumption to save
          money and the environment.

    Who:  Clinton Roeder, Senior Vice President and General Manager with
          Direct Energy, is available to discuss:

          -  How the current pricing system puts the security of Ontario's
             power supply at risk;
          -  How to increase rates and lower energy bills at the same time;
          -  How pricing based on market value encourages conservation and
             will help the Ontario government meet its commitment to phase
             out coal-fired generation plants by 2014.

    When: Clinton Roeder is available for interviews, please contact Lindsey
          Coulter at 416-355-7430 or lindsey.coulter@ketchum.com to
          schedule a time.
    




For further information:

For further information: Lindsey Coulter at (416) 355-7430 or
lindsey.coulter@ketchum.com


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