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15 April 2004 - Constellation Energy has praised the Ontario government's decision to pursue dramatic changes in the electricity market that provide a framework for customer choice and the building of new generation assets in the province.
Announcement of the long-awaited decision was disclosed by Minister of Energy Dwight Duncan today during a speech to the Empire Club. Minister Duncan also said that the proposal will be introduced as legislation in June, with expected passage by the Ontario Legislature when it convenes this fall.
"We must send a clear and unambiguous message that Ontario is a good place to invest, and that politics will not impair the private sector's ability to earn a fair return on their investment," Minister Duncan said.
The proposal will likely stimulate interest by companies to invest in generation facilities in the province which should create a more efficient, robust and reliable electricity market.
"We have the capability and the interest to build in Ontario," said Mike Wallace, president of Constellation Generation Group, a subsidiary of Constellation Energy. "The province needs new generation and building power plants would certainly be a positive step in solving many of the province's supply problems."
The plan allows medium and large businesses to continue to have flexibility and choice in managing their energy costs.
"The government's proposal is an extremely positive step for energy users in our province," said Rob Weir, vice president of Constellation NewEnergy Canada. "The plan creates the framework for our province to have electricity suppliers which must compete on price and service to serve and retain customers."
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