Abitibi gets licence changed for power dams

News Release
OEB

TORONTO, March 5 /CNW/ - The Ontario Energy Board (the “Board”) today granted Abitibi-Consolidated Company of Canada’s (“Abitibi”) request to amend its electricity generation licence by changing its qualification from “owner and operator” of eight hydroelectric generating stations in the vicinities of Kenora, Fort Frances and Iroquois Falls to “operator” only.
By way of a commercial transaction, Abitibi intends to transfer ownership of the eight hydroelectric generating stations and associated transmission and distribution lines to ACH Limited Partnership (“ACH”).
The Board also granted an electricity retailer licence and electricity generation licence to ACH. ACH will be the licensed owner of the eight hydroelectric generating stations.
The ACH generation licence and Abitibi amendment are subject to a number of conditions which relate to the closing of the commerical transaction.
The Ontario Energy Board regulates the province’s electricity and natural gas sectors in the public interest. It envisions a healthy and efficient energy sector with informed consumers, and works towards this vision through regulatory processes that are effective, fair and transparent.