“The state is creating large problems for the future by financing current power purchases and pushing payments into the future,” Makovich testified. “California has signed the wrong types of long-term power contracts by agreeing to pay for energy volumes at fixed prices in the future. Having signed these contracts at the height of a shortage market, California is likely to have expensive take-or-pay obligations for decades. This summer is likely to generate billions of dollars of additional wholesale power charges that will appear on the state’s books and need to be paid off over an untold number of years.”
TORONTO, March 21, 2001 (CNW) – Ontario Power Generation announced today the launch of a subsidiary company, OPG Ventures Inc. that will invest in new emerging energy and related energy technology companies.