In what appears to be a rich power contract with the Ontario Power Authority, the existing Ontario hydro-electric operations of the international investment giant Brookfield have effectively been converted into a public utility earning guaranteed rates. The attached essay argues for a public airing of the contract terms.
The Brookfield deal appears to be signed, but progress in power dealing transparency remains urgent. The OPA is currently develop a large portfolio of new contracts with existing generators. Bruce B refurbishment is one example, with contract negotiations planned for 2010 and signing in 2011. Of the total capacity of 1700 MW of non-utility generation (NUG) contracts entered into by Ontario Hydro primarily in the period 1989-1993, 600 MW will expire before 2015. The first to expire is contract a for 103 MW cogeneration facility in 2010.
In its 2010 fees case at the OEB, the OPA indicated that 12 hydro-electric contracts and 5 NUG recontracts were let in 2009 and a further 5 hydro-electric contracts and 3 NUG recontracts are expected in 2010.