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Ontario Operations

The newly acquired, Carmichael Falls Generation Station is located on the Groundhog River, in the District of Cochrane, in Northern Ontario. The Station has two - 10 megawatt units with an installed capacity of 20 megawatts and supplies on average 86 gigawatt hours of energy annually to Ontario Electricity Financial Corporation (OEFC).

The power purchase agreement is a take-or-pay 50 year contract with the OEFC that is subject to renewal on an annual basis starting 2042. Carmichael Falls is obligated to sell exclusively all of its power to OEFC, with no minimum or maximum delivery commitment.

Rates:

  • An average rate for approximately $107/MWh escalating every year up to $138/MWh in 2011.
  • An average fixed rate of $44/MWh, between 2012 and 2020.
  • Price established under the contract for 2021 will escalate annually for the remainder of the term.

    • Acquired in May 2002, Mississagi Operations are located on the Mississagi River in northern Ontario. The facilities consist of four hydroelectric stations and a storage reservoir at Rocky Island Lake. The system has a watershed area that covers over 9,000 square kilometres and a combined installed capacity of 508 megawatts that supplies, on average, 836 gigawatt hours of energy annually to the Ontario power grid.