IPPSO News Release, April 27, 2001
FOR IMMEDIATE RELEASE: April 27, 2001
"Work needed" to make sure system is ready
"Because we'd all like to see the market open as soon as possible, we encourage the government to keep working on the remaining issues, including ensuring that all past commitments are properly carried forward, with an eye to being ready for competition this November." The relevant regulators, the IMO and the OEB, recently published a plan which envisions having the necessary preparations in place this fall. "The plan put forward by the OEB and the IMO is feasible and has the support of all the necessary players. We'd recommend sticking with that plan and its schedule," said IPPSO's Executive Director Jake Brooks. IPPSO represents more than 300 companies and individuals active in the development of new power generation projects in Ontario. The organization has been advocating an early opening of Ontario's electricity market and a rapid process of divestiture for Ontario Power Generation's generating plants.
IPPSO describes the government's announcement as bringing the province a step closer to a more efficient and responsive electricity industry. "We have to thank the government for lifting a good part of the uncertainty that previously existed around the date for starting competition," Brooks said. "Now the challenge is resolving the remaining issues as quickly as possible, so that no one has to forgo the benefits of competition between November and May."
"Electricity competition will mean not just active competition for the consumer's dollar, but new investment and innovation across the sector." A range of environmentally-friendly energy projects become possible with an open market, in addition to new ways of doing business. "This kind of investment flow will create jobs, stabilize energy costs, and generally improve the economic outlook for Ontario. That's why it's important to resolve the remaining readiness issues as soon as possible"
IPPSO also advocates the rapid decontrol or sell-off of generating plants owned by Ontario Power Generation (OPG), the primary successor to Ontario Hydro. OPG currently dominates the Ontario market owning more than 80% of the generating plants.
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For queries or suggestions, please forward to:
IPPSO, PO Box 1084 Station F, Toronto, Ontario, M4Y 2T7 Canada.
Street address: 163-C Eastbourne Ave., Toronto, Ontario M5P 2G5
Last update: April 27, 2001