Company responsible for largest contributions to 2011 – 2014 provincial targets
TORONTO, Sept. 2, 2015 /CNW/ - Toronto Hydro's 2011-2014 provincial conservation results are in. Toronto Hydro is proud to be the largest contributor to the Ministry of Energy's (MOE) provincial conservation and demand management (CDM) targets.
Toronto Hydro's results contributed 22% of the demand savings and 24% of the energy savings of the overall provincial CDM target, and was a significant contributor to the Green Energy Act goal to phase out coal generation by 2014.
Since 2005, Toronto Hydro has consistently demonstrated leadership in CDM, working closely with our industry partners and stakeholders, including the MOE, IESO, Ontario Energy Board, the City of Toronto and local electricity and gas distributors. Over the past 10 years, Toronto Hydro has been a leader in the development of innovative local and provincial CDM programs for all market sectors – low income, residential, commercial and industrial.
The success of our conservation initiatives from 2011 to 2014 can be attributed to a strong commitment to sustainability and corporate responsibility, as well as to our customers by offering programs to help them invest in efficiency measures that helps lower their electricity consumption and costs.
More information about Toronto Hydro's CDM programs can be found at torontohydro.com/conservation, or read more about our sustainability performance in our 2014 Corporate Responsibility Report, Bringing Energy to Life.
- Toronto Hydro's 2011-2014 CDM achievements reduced 206 MW of summer peak demand and reduced 1,583 GWh of energy consumption.
- Toronto Hydro's incremental results are equivalent to:
- Powering a city with a population of 150,000
- Reducing 45,600 Tonnes of GHG
- Removing 16,800 cars from our congested highways
- Deferring the need to build infrastructure to power over 300 new condominiums in Toronto (based on average Toronto condo size of 193 units)
- From 2011 to 2014, Toronto Hydro customers who participated in CDM programs received more than $66.5 million in incentives1
Through our outreach, we helped businesses in Toronto invest $281M equating to approximately $746M in economic spin-off benefits to other businesses2
"Toronto Hydro was one of the first utilities to make conservation part of their core business, and they continue to be a leader in the industry. We welcome the partnership we have with Toronto Hydro and appreciate their expertise and ability to deliver exceptional electricity savings – for the benefit of all Ontarians. We look forward to working with Toronto Hydro, and with all the Local Distribution Companies (LDCs) and customers across Ontario to drive success in our conservation programs."
- Bruce Campbell, President and CEO, IESO.
"These results are a remarkable achievement for our customers. We are proud to be a partner in promoting conservation with the MOE, IESO and other LDCs across Ontario. These impressive results are not about one utility – they're about working together and making a meaningful impact through conservation to contribute to a more sustainable future for all Ontarians."
- Anthony Haines, President and CEO, Toronto Hydro
1 Excludes incentives paid directly by IESO to Toronto area residential, commercial and industrial customers who participated in the saveONenergy coupon, HVAC and demand response programs
2 Assumes $2.50 GDP per $1 program and participant spending. Energy Efficiency: Engine of Economic Growth in Canada, Acadia Center, March 2014
ABOUT TORONTO HYDRO
Toronto Hydro owns and operates an electricity distribution system, which delivers electricity to approximately 747,000 customers located in the city of Toronto. It is the largest municipal electricity distribution company in Canada and distributes approximately 19% of the electricity consumed in the province of Ontario.
SOURCE Toronto Hydro Corporation