Press Release

VANCOUVER – BC Hydro today filed with the BC Utilities Commission (BCUC) the 2007 Electricity Purchase Agreement (EPA)  [PDF, 4.7 Mb] with Alcan 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.

The 2007 EPA replaces last year's agreement with Alcan which was rejected by the BCUC.

"The 2007 EPA meets all of the concerns previously expressed by the BCUC by delivering lower contracted prices, a longer term contract, and an increase in capacity and scheduling services," added Mr. Elton.

Highlights of the 2007 EPA include:

• A contract with a reliable supplier (Alcan) from which BC Hydro has successfully acquired power for more than 25 years.
• A long-term agreement which extends to 2034 (10 years beyond the previous agreement).
• Power delivered at fixed prices, which reduces BC Hydro's exposure to market price volatility.
• The maximum expected hourly scheduled capacity (compared to the 2006 agreement):
  

  2007-2009	292 MW (up from 191 MW)
  2010-2016	206 MW (no change from 2006)
  2017+	163 MW (up from 39 MW)

• Enhanced scheduling rights which allows more flexibility to schedule energy into higher-value peak-use periods.

The 2007 EPA becomes effective on October 1, 2007, and is subject to acceptance by the BC Utilities Commission.

View a copy of the agreement  [PDF, 4.7 Mb] filed with the BCUC.

Contact:

David Hanley

BC Hydro Communications

Phone: 604-623-3953

BC Hydro/Alcan 2007 Energy Purchase Agreement Report September 21, 2007

• BC Hydro/Alcan 2007 EPA Report  [PDF, 13.7 Mb]

BC Hydro/Alcan Workshop September 12, 2007

• BC Hydro Workshop Presentation  [PDF, 386 Kb]
• Alcan Workshop Presentation  [PDF, 1.7 Mb]