TORONTO, July 21, 2014 /CNW/ - A wider range of Ontario sectors are now eligible to apply for incentives under Stream 3 of the Industrial Electricity Incentive (IEI) program, which the Ontario Power Authority (OPA) recently launched. Participation in IEI will help eligible companies reduce electricity costs, increase competitiveness, and assist in the improve load management and management of electricity demand.
Draft program documents are now available for review and comment on the OPA website at www.powerauthority.on.ca/iei.
In return for building new or expanding production at existing facilities, IEI Stream 3 participants receive a reduction in the associated costs of electricity over a specified term up to the lesser of 10 years or an end date of December 31, 2024. The IEI program is intended to support a dynamic and innovative business climate in which companies can thrive, grow and create jobs while at the same time make use of Ontario's strong supply of electricity.
Stream 3 of the program expands eligibility to other energy-intensive sectors, such as greenhouses, refrigerated warehousing and data processing. Mining, quarrying, oil and gas extraction, and manufacturing companies continue to be eligible. The complete list of eligible industry codes from the North American Industry Classification System is available at www.powerauthority.on.ca/iei.
The OPA will host a Stream 3 webinar Wednesday, July 30 to provide additional information, answer questions and receive feedback. To participate in the webinar and to sign up for future updates please visit the OPA website.
The OPA expects to finalize the development of Stream 3 by September, accept applications between September and November, and offer contracts by the end of the year.
Under Stream 2 of the IEI program, the OPA has entered into contracts with eligible industrial companies across the province, including Atlantic Packaging, Detour Gold and Irving Tissue.
"Expanding the Industrial Electricity Incentive program to more eligible industries offers a great opportunity for more Ontario industries to reduce their electricity costs. We encourage all eligible industries to review the draft program documents, provide their feedback and apply for the incentive."
– JoAnne Butler, VP, Electricity Resources, Ontario Power Authority
"Ontario is taking advantage of its strong electricity supply to create jobs and build our economy. Expanding these industrial incentives will reduce electricity system costs by better using our available power and help support a dynamic and innovative climate for business to thrive, grow and create jobs -- strengthening local economies across the province."
– Bob Chiarelli, Minister of Energy
The Ontario Power Authority is responsible for ensuring a reliable, sustainable supply of electricity for Ontario. Its key areas of focus are planning the power system for the long term, leading and coordinating conservation initiatives across the province, and ensuring development of needed generation resources.
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SOURCE Ontario Power Authority