Ontario’s troubled economy is having an effect on demand for electricity.
In his regular update to Bruce County Council, Bruce Power Manager of Government and Community Relations says average market prices for electricity have been lower during the first three months of 2008 because of lower load demand.
Lamont says power producers are seeing lower revenues from the electricity they sell on the daily market.
He says guaranteed pricing contracts aren’t affected.
Lamont says Bruce Power will have to look closely at how it decides to sell power and will develop a marketing strategy to decide if it should focus more on guaranteed contracts instead of selling on the open market.
He says the decline in market pricing is factor for any power company considering expansion and it poses a difficulty for governments trying to encourage new generation.
Lamont says guaranteed pricing, like what is being used for solar and wind power projects would prevent that problem in other areas of power generation.
Lamont says open houses and discussions with First Nations continue regarding Bruce Power’s expansion plans at Nanticoke on Lake Erie.
As for Bruce Power’s expansion plans in Alberta, Lamont says the Whitemud site is the preferred option.