Plans are underway for a construction of a $700 million natural gas power plant, to be built on the Toronto Portlands beside the old Hearn power station. The project, called The Portlands Energy Center (PEC), is being funded by a 50/50 partnership between Ontario Power Generation Inc. (OPG) and TransCanada Energy Ltd. (TCE).

Natural gas is a limited and diminishing resource with rising costs. In addition, the by-products of the process are significant release of Nitrous Oxide (the prime component in smog, and a contributor to global warming), and the release of high levels of chlorine into the lake. However, the sale of gas and energy is very profitable.

The Ontario Power Generation Inc. is the division of the former Ontario Hydro in charge of power generation within the province of Ontario, and is wholly owned by the Provincial Government of Ontario. TransCanada Energy Ltd. is owned by TransCanada Corporation, a public company trading on the Toronto Stock Exchange and the New York Stock Exchange, and includes such companies as TransCanada Pipelines (which supplies natural gas), and Bruce Power (which operates 8 CANDU nuclear reactors in Ontario that it leases from the province).

Our Vision is to be a leader in total unit holder return among the pipeline limited partnerships. Our Goal is to create a consistent track record of increasing cash distributions to unit holders.  These are the prime objectives stated by TC Pipelines.

Some Interesting Connections:

* The Chairman of the Board of Ontario Power Generation is The Honorable Jake Epp. From 1993 to 2000, he was the senior Vice President and Vice President at TransCanada Pipelines.
* The largest shareholders of TransCanada stock is the CPP Investment Board (Canada Pension Plan), with more than 35 million shares valued at more than $1.2 billion..
* The second largest shareholder of TransCanada stock is RBC Asset Management (Royal Bank), with more than 29 million shares, worth more than $1 billion. George Lewis, Chairman and CEO of RBC Asset Management, is also on the Board of Ontario Power Generation Inc.

Renewable Wind Power

There are currently nine wind power projects underway in Ontario, all funded by private corporations. With all projects anticipating completion by the end of 2008, the 506 new wind turbines will add an additional 955 Megawatts of power to the current grid. Current OPA projects.

Obviously wind power is a viable alternative. It uses no fuel, and it produces no pollution. So why is the government of Ontario supporting the construction of a power plant that will pollute the air of Toronto? Is it really for the betterment of the city, or is it simply a profit venture?

For More Information:

Stop the Portlands Power Plant
Ontario Clean Air Alliance
Portlands Energy Center
Canadian Wind Energy Association