Applications now being accepted for Stream 3 of the Industrial Electricity Incentive program

TORONTO, Sept. 11, 2014 /CNW/ - The Ontario Power Authority (OPA) is now accepting applications from a wider range of Ontario industries for incentives to invest in new facilities or expand existing ones under Stream 3 of the Industrial Electricity Incentive (IEI) program.

Applications will be accepted until November 10 and contracts are expected to be offered to successful applicants by the end of the year.

In return for building new or expanding existing production facilities, Stream 3 participants will receive a reduction in the associated costs of electricity for a contract term ending the earlier of 10 years or until December 31, 2024. Up to four terawatt-hours of electricity has been allocated for this stream of the program.

Mining, quarrying, oil and gas extraction and manufacturing companies continue to be eligible for the program. Stream 3 of the program expands eligibility to other energy-intensive industries, including greenhouse, nursery and floriculture production, refrigerated warehousing and data processing. The complete list of eligible industries is available here.

The OPA will host a Stream 3 webinar Wednesday, September 24 to provide additional information and answer questions about the application process. To review the final program documents, participate in the webinar and to sign up for future updates, please visit the OPA website at www.powerauthority.on.ca/iei.

The IEI program supports a dynamic and innovative business climate in which companies can thrive, grow and create jobs while assisting in the management of Ontario's strong electricity supply. Under Stream 2 of the IEI program, the OPA has to date awarded seven contracts to industrial companies across the province:  ASW Steel, Atlantic Packaging, Detour Gold, Goldcorp, Irving Tissue, Pembroke MDF and Resolute FP.

QUOTES

"Expanding the Industrial Electricity Incentive program to more eligible industries offers a great opportunity for more Ontario industries to reduce their electricity costs. We encourage all eligible industries to review the final program documents and apply for the incentive." 
 – Colin Andersen, Chief Executive Officer, Ontario Power Authority

"The Industrial Electricity Incentive program is supporting load management in the province, the expansion of Ontario companies and the creation of local jobs. Expanding the program allows more Ontario industries to spur economic growth and create jobs, while benefiting from a reliable and cost-efficient electricity system."
– Bob Chiarelli, Minister of Energy

The Ontario Power Authority is responsible for ensuring a reliable, sustainable supply of electricity for Ontario. Its key areas of focus are planning the power system for the long term, leading and coordinating conservation initiatives across the province, and ensuring development of needed generation resources.

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SOURCE: Ontario Power Authority

Media Contact: John Cannella, 416-969-6307, Toll Free: 1-800-797-9604, [email protected]