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April 13, 2005

Hudson's Bay Company achieves energy efficiency recognition

First retailer to be named a Power Smart Certified Customer

VANCOUVER – BC Hydro announced today that Hudson's Bay Company (Hbc) has been designated a Power Smart Certified Customer for its achievements in energy efficiency. Since 2000, Hbc has saved over $12 million in energy costs nationally through proactive energy management. Further, Hbc has committed to retrofitting all remaining Hbc stores with energy-efficient technologies by 2007.

Bev Van Ruyven, Senior Vice-President, Distribution, BC Hydro; Richard Neufeld, Minister of Energy and Mines; George Heller, President and CEO, Hbc.

The Power Smart Certified designation is granted by BC Hydro to recognize organizations that demonstrate exceptional energy efficiency leadership within their industries or sectors.

The announcement was made at a ceremony held at The Bay in downtown Vancouver, attended by officials from Hbc and BC Hydro. Hbc President and CEO, George Heller, accepted the Power Smart Certification. "We are very proud to be named a Power Smart Certified organization," said Heller. "With our Energy Conservation Strategy, we have truly committed to reducing energy usage at all levels of our organization. This honour is evidence of our strong dedication to reducing electricity consumption and our footprint on the environment."

"Through its commitment to energy conservation and environmental sustainability, Hbc is setting an example for other retailers to follow," said BC Hydro Senior Vice-President, Distribution, Bev Van Ruyven. "By doing so, Hbc will also help BC Hydro meet its long term goal of developing and fostering a conservation culture in British Columbia."

Hbc is the first retailer designated as a Power Smart Certified Customer by BC Hydro. Since 2000, Hbc has saved over $12 million in energy costs nationally and more than 100 gigawatt hours in electrical energy savings. In B.C., that translates to over 5.8 gigawatt hours a year, equating to approximately $294,000. By retrofitting the remaining 17 stores in B.C. by 2007, Hbc will save an additional 2.8 gigawatt hours a year – enough energy to power approximately 300 homes.

Hbc has committed to actively pursuing various energy efficiency initiatives. Their Energy Conservation Strategy was implemented throughout the entire organization in 2002. This comprehensive strategy outlines policies, procedures and the day-to-day activities for staff and associates to facilitate energy conservation and has garnered multiple awards from industry and environmental groups. In 2002, Hbc implemented a Behavioural Awareness program which encourages each store to reduce energy consumption by changing energy use practices and implementing energy efficiency projects where feasible.

The Power Smart Certified distinction is reserved for a select group of organizations who are in the upper echelons of energy efficiency leadership and who have a history of continuous improvement in energy efficiency.

Hbc, established in 1670, is Canada's largest department store retailer and oldest corporation. With more than 500 stores led by the Bay, Zellers, Home Outfitters and Designer Depot banners. Hbc is one of Canada's largest employers with operations in every province in Canada. In BC, Hbc operates 62 Bay, Zellers and Home Outfitters stores.

Power Smart is a cost-effective initiative that assists customers in conserving electricity, thereby saving them money and reducing further impacts on the environment. Electricity conservation helps BC Hydro meet growing customer demands by making more efficient use of the electricity that is currently generated, and by helping delay the need for new, large-scale generation projects. Over the next 10 years, it is expected that Power Smart will save 3,500 gigawatt hours of electricity or enough energy to power 350,000 homes each year. To date, Power Smart has saved customers in British Columbia more than $1.1 billion.