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VANCOUVER – The British Columbia Utilities Commission (BCUC) Monday accepted the 2007 Electricity Purchase Agreement (2007 EPA) between BC Hydro and Alcan.

The agreement provides BC Hydro with a cost effective, long-term supply of clean energy to help meet the growing demand for electricity in B.C.

The 2007 EPA was signed in August 2007, filed with the BCUC in September, and was followed by a public hearing process

"This agreement is an important part of meeting the growing demand for electricity in B.C.," said Bob Elton, President and CEO of BC Hydro. "I am very pleased with the Commission's decision because it means that our ratepayers will benefit from a long-term contract and reasonably-priced electricity."

The 2007 EPA establishes a long-term contract for cost-effective electricity, capacity scheduling rights, and access to reservoir storage which will give BC Hydro greater ability to utilize non-firm, clean resources such as wind and run-of-river hydro.

The agreement also helps advance a key policy objective of the BC Energy Plan: achieving electricity self-sufficiency by 2016.

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.