Toronto Hydro-Electric System Limited

Toronto Hydro-Electric System Limited
Toronto Hydro Corporation

Toronto Hydro Corporation

September 26, 2007 11:02 ET

Toronto Hydro-Electric System: Are Toronto Businesses Doing Their "BIP"?

Toronto Hydro-Electric System continues City conservation drive with Business Incentive Program

TORONTO, ONTARIO--(Marketwire - Sept. 26, 2007) -

Attention: Business, Assignment, Energy and Environment Editors

Businesses use most of the electricity in Toronto and they can do a lot to reduce their demands on the grid. To support them, Toronto Hydro-Electric System Limited ("Toronto Hydro") has launched the $9 million Business Incentive Program ("BIP"). Through BIP, Toronto Hydro is offering financial incentives to owners and operators of buildings 25,000 square feet or less, who implement measurable energy-efficient upgrades or renovations. These include multi-use buildings, restaurants, offices, retailers, grocers, hotels, industrial properties, and residential management companies.

"We designed this program to kick-start real electricity conservation activities in this small to mid-size commercial market," explained David O'Brien, President and CEO of Toronto Hydro Corporation. "The Business Incentive Program will encourage those looking at renovating their buildings to do so with energy efficiency in mind. It provides financial incentives to property owners to reduce their electricity use now. This type of program is critical to reducing electricity loads in Toronto. The commercial sector uses about 80 per cent of the power in the City. There's lots of room to conserve, and in doing so they improve their bottom lines by reducing their hydro bills. Not to mention the environmental benefits that will result."

The Business Incentive Program is yet another initiative by Toronto Hydro to drive conservation into the market. It compliments the peaksaver® air conditioner demand response program, which has grown to enable Toronto Hydro to reduce peak demands in Toronto by up to 43 megawatts when activated. The BIP program is targeting three megawatts in load reduction by year-end; and a total of 20 megawatts by the end of 2010.

Business customers thinking of upgrading or renovating their property should take advantage of this new program. In an office setting, 25-40 per cent of all electricity used is for lighting. Immediate savings can be achieved by upgrading fluorescent light bulbs to more energy efficient ones, or by replacing incandescent lights with compact fluorescents and adding more circuits for better lighting control. For many buildings, heating and cooling use the greatest amount of electricity. Upgrading to an energy-efficient heating, ventilation, and air conditioning (HVAC) unit can save money over the life of the equipment. BIP can easily be worked into new renovation projects, as it helps stretch a project budget and is a good way to encourage environmental responsibility.

Generally, the projects that achieve greater peak kilowatt (kW) savings may receive higher financial incentives, ranging from $150/kW to $350/kW, paid by Toronto Hydro to the property owner when the work is completed. Every project will be evaluated individually to ensure true peak-kW reductions are achieved and that the renovations "lock in" savings for at least three years. To be considered for this program, the building must have been connected to the Toronto Hydro distribution grid for at least one (1) year.

Visit www.torontohydro.com/bip for more information, examples, and a cost-savings calculator.

Toronto Hydro will be exhibiting the Business Incentive Program at the IIDEX/NeoCon Canada 2007 Exposition and Conference, Canada's largest exposition and conference for the design, construction and management of the built environment:

Location: Direct Energy Centre, Exhibition Place, 100 Princes' Blvd., Toronto, ON M6K 3C3

Date: September 27, 9:00 a.m. to 6:30 p.m. and September 28, 2007, 9:00 a.m. to 6:00 p.m.

About Toronto-Hydro Electric System Limited

A wholly owned subsidiary of Toronto Hydro Corporation, Toronto Hydro-Electric System Limited delivers electricity through a complex network of poles, wires and underground structures to 678,000 customers and distributes approximately 18 per cent of the electricity in the province of Ontario. Toronto Hydro Corporation is owned 100 per cent by the City of Toronto.

Contact Information