Sue's Blog

Wednesday, August 09, 2006

You gotta love it....

Excerpt from 2nd quarter results for Fortis....

Power purchase obligations for FortisOntario primarily include a
long-term take-or-pay contract between Cornwall Electric and
Hydro-Quebec Energy Marketing for the supply of electricity and
capacity. The contract provides approximately 237 GWh of energy
per year and up to 45 MW of capacity at any one time. The
contract, which expires December 31, 2019, provides approximately
one-third of Cornwall Electric's load. Cornwall Electric also has
a 2-year contract in place with Hydro-Quebec Energy Marketing
which expires June 30, 2008. This take-or-pay contract provides
energy on an as-needed basis but charges for 100 MW of capacity
at $0.14 million per month.
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Carry on billions....

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