Press Release
August 16, 2007
BC Hydro and Alcan reach long-term energy agreement
VANCOUVER – BC Hydro and Alcan today announced a new long-term Electricity Purchase Agreement (EPA) that provides BC Hydro with an affordable, long-term supply of clean energy to help meet the growing demand for electricity in B.C.
"This agreement provides us with access to clean, affordable energy which will benefit our customers and help achieve the province's goal of electricity self-sufficiency by 2016," said Bob Elton, President and CEO of BC Hydro. "Our EPA with Alcan establishes a long-term contract, a fair price for the energy, and increases our storage capacity which gives us a greater ability to use non-firm, clean resources such as wind and run-of-river hydro."
In December 2006, the British Columbia Utilities Commission (BCUC) rejected the previous agreement between BC Hydro and Alcan. Since then, the provincial government has released its new Energy Plan which established the goal of achieving electricity self-sufficiency, and ensuring that clean or renewable electricity continue to account for at least 90 per cent of total generation.
The 2007 agreement with Alcan includes a longer-term contract, lower contracted prices, extra capacity, and enhanced scheduling rights which allows more flexibility to schedule energy into higher-value peak-use periods.
The 2007 Electricity Purchase Agreement with Alcan is subject to the review and approval of the British Columbia Utilities Commission. An application to the BCUC will be submitted in the next month.
Contact:
| Gillian Robinson Riddell |
| Media Relations |
| Phone: 604 623-4022 |
| gillian.robinson@bchydro.com |
