Toronto Hydro Corporation

Toronto Hydro Corporation

February 03, 2006 07:03 ET

Toronto Hydro and Enwave to Provide Downtown Toronto With NEW Electricity Supply

TORONTO, ONTARIO--(CCNMatthews - Feb. 3, 2006) - Toronto Hydro-Electric System Ltd.
announced a $1.76 million investment to support Enwave Energy Corporation's
development of an 11 megawatt (MW) generation plant. The plant will be housed
within Enwave's existing Chilled Water production facility at Lower Simcoe Street.
This natural gas facility will help alleviate stress on Toronto's electricity
distribution system on days when the City needs it most.

The Enwave plant will be capable of producing upwards of 11MW of
electricity. It will act as back-up generation for Enwave's Deep Lake Water
Cooling project and allow Toronto Hydro to draw upon this supply to help the
City reduce power consumption on days when demand threatens to exceed supply
in the province.

This initiative fits into Toronto Hydro's vision of providing the City
with options to reduce electricity use, and improve the environment. During
the hot summer of 2005, the IESO called for voltage reductions on three
separate occasions and earlier this year tested voltage reduction procedures
which indicate that the City will need to look at a number of solutions to
solve this problem.

This large conservation and demand management project represents the
second Agreement between Toronto Hydro and Enwave and forms part of Toronto
Hydro's commitment to reduce peak electricity consumption in Toronto by up to
250MW. Earlier in 2005, the two companies announced a $1.6M, 10MW plan to
replace existing air conditioning equipment with Enwave's Deep Lake Water
Cooling Technology in the Richmond Adelaide Centre; Adelaide Place; Queen's
Park and three other buildings.

Toronto Hydro has dedicated $39.8 million to conservation and demand
management (CDM) programs through 2007.

David O'Brien, President and Chief Executive Officer of Toronto Hydro
Corporation, said customers look to their utility to provide leadership in
conservation. "This project will help reduce the demand in Toronto and
contribute to the supply solution in a positive way using conservation. Enwave
has brought another outstanding project forward. It's a great example of how
local generation projects will add new supply to the provincial grid. "

"Toronto Hydro's support of our 11 MW gas fired generating facility is a
testament to its commitment to the citizens of this City to bring about
meaningful reduction in power consumption. From Enwave's perspective, it is
yet another example our of continued commitment to change the way we use and
generate power in ways that respect the environment," said Dennis Fotinos,
President and CEO of Enwave Energy Corporation.

About Toronto Hydro-Electric System Limited

A subsidiary of Toronto Hydro Corporation, Toronto Hydro-Electric System
Limited delivers electricity through a complex network of poles, wires and
underground structures to 668,673 customers and distributes 18 per cent of the
electricity in the province of Ontario. Our annual revenues are $2.49 billion;
peak demand of 5000 megawatts and Toronto Hydro-Electric System Limited's
workforce of 1,201 skilled professionals are dedicated to delivering a safe
and reliable supply of electricity to customers. Toronto Hydro Corporation is
owned 100 per cent by the City of Toronto.

About Enwave

Enwave provides low cost, clean energy solutions. Enwave's current
customer base of 130 buildings in downtown Toronto includes such high profile
buildings as the Air Canada Centre, Metro Toronto Convention Centre, Royal
Bank Plaza, TD Centre and Steam Whistle Brewing.

Contact Information

  • or to schedule an interview, please contact:
    Toronto Hydro
    Tanya Bruckmueller
    T: (416) 542-2621, C: (416) 902-9437;

    Enwave
    Daniela Andrighetti
    T: (416) 338-8904