425-MW "Green" power plant up and running in New South Wales

MARVEL microreactor debuts at Idaho National Laboratory as a 100 kW, liquid-metal-cooled, zero-emissions generator powering a nuclear microgrid, integrating wind and solar for firm, clean energy in advanced nuclear applications research.

Key Points

A 100 kW, liquid-metal-cooled INL reactor powering a nuclear microgrid and showcasing zero-emissions clean energy.

✅ 100 kW liquid-metal-cooled microreactor at INL

✅ Powers first nuclear microgrid for applications testing

✅ Integrates with wind and solar for firm clean power

Inside the Transient Reactor Test Facility, a towering, windowless gray block surrounded by barbed wire, researchers are about to embark on a mission to solve one of humanity’s greatest problems with a tiny device.

Next year, they will begin construction on the MARVEL reactor. MARVEL stands for Microreactor Applications Research Validation and EvaLuation. It’s a first-of-a-kind nuclear power generator with a mini-reactor design that is cooled with liquid metal and produces 100 kilowatts of energy. By 2024, researchers expect MARVEL to be the zero-emissions engine of the world’s first nuclear microgrid at Idaho National Laboratory (INL).

“Micro” and “tiny,” of course, are relative. MARVEL stands 15 feet tall, weighs 2,000 pounds, and can fit in a semi-truck trailer. But it's minuscule compared to conventional nuclear power plants, which span acres, produces gigawatts of electricity to power whole states, and can take more than a decade to build.

For INL, where scientists have tested dozens of reactors over the decades across an area three-quarters the size of Rhode Island, it’s a radical reimagining of the technology. This advanced reactor design could help overcome the biggest obstacles to nuclear energy: safety, efficiency, scale, cost, and competition. MARVEL is an experiment to see how all these pieces could fit together in the real world.

“It’s an applications test reactor where we’re going to try to figure out how we extract heat and energy from a nuclear reactor and apply it — and combine it with wind, solar, and other energy sources,” said Yasir Arafat, head of the MARVEL program.

The project, however, comes at a time when nuclear power is getting pulled in wildly different directions, from phase-outs to new strategies like the UK’s green industrial revolution that shapes upcoming reactors.

Germany just shut down its last nuclear reactors. The U.S. just started up its first new reactor in 30 years, underscoring a shift. France, the country with the largest share of nuclear energy on its grid, saw its atomic power output decline to its lowest since 1988 last year. Around the world, there are currently 60 nuclear reactors under construction, with 22 in China alone.

But the world is hungrier than ever for energy. Overall electricity demand is growing: Global electricity needs will increase nearly 70 percent by 2050 compared to today’s consumption, according to the Energy Information Administration. At the same time, the constraints are getting tighter. Most countries worldwide, including the U.S., have committed to net-zero goals by the middle of the century, even as demand rises.

To meet this energy demand without worsening climate change, the U.S. Energy Department’s report on advanced nuclear energy released in March said, “the U.S. will need ~550–770 [gigawatts] of additional clean, firm capacity to reach net-zero; nuclear power is one of the few proven options that could deliver this at scale.”

The U.S. government is now renewing its bets on nuclear power to produce steady electricity without emitting greenhouse gases. The Bipartisan Infrastructure Law included $6 billion to keep existing nuclear power plants running. In addition, the Inflation Reduction Act, the U.S. government’s largest investment in countering climate change, includes several provisions to benefit atomic power, including tax credits for zero-emissions energy.

“It’s a game changer,” said John Wagner, director of INL.

The tech sector is jumping in, too, as atomic energy heats up across startups and investors. In 2021, venture capital firms poured $3.4 billion into nuclear energy startups. They’re also pouring money into even more far-out ideas, like nuclear fusion power. Public opinion has also started moving. An April Gallup poll found that 55 percent of Americans favour and 44 percent oppose using atomic energy, the highest levels of support in 10 years.

Related News

• Electricity Forum News

• Power Generation News

New Mexico EV Benefits highlight cheaper fuel, lower maintenance, cleaner air, and smarter charging, cutting utility bills, reducing NOx and carbon emissions, and leveraging incentives and renewable energy to accelerate EV adoption statewide.

Key Points

New Mexico EV Benefits are the cost, grid, and emissions gains from EV adoption and optimized off-peak charging.

✅ Electricity near $1.11 per gallon equivalent cuts fueling costs

✅ Fewer moving parts mean less maintenance and lifecycle costs

✅ Off-peak charging reduces utility bills and grid emissions

What would happen if New Mexicans ditched gasoline and started to drive on cleaner, cheaper electricity? A new report from MJ Bradley & Associates, commissioned by NRDC and Southwest Energy Efficiency Project, answers that question, demonstrating that New Mexico could realize $30 billion in avoided expenditures on gasoline and maintenance, reduced utility bills, and environmental benefits by 2050. The state is currently considering legislation to jump-start that transition by providing consumers incentives to support electric vehicle (EV) purchases and the installation of charging stations, drawing on examples like Nevada's clean-vehicle push to accelerate deployment, a policy that would require a few million dollars in lost tax revenue. The report shows an investment of this kind could yield tens of billions of dollars in net benefits.

$20 Billion in Driver Savings

EVs save families money because driving on electricity in New Mexico is the cost-equivalent of driving on $1.11 per gallon gasoline. Furthermore, EVs have fewer moving parts and less required maintenance—no oil changes, no transmissions, no mufflers, no timing belts, etc. That means that tackling the nation’s largest source of carbon pollution, transportation, could save New Mexicans over $20 billion by 2050 because EVs are cheaper to charge and maintain than gas powered cars, and an EV boom benefits all customers through lower rates.

Those are savings New Mexico can bank on because the price of electricity is significantly cheaper than the price of gasoline and also inherently more stable. Electricity is made from a diverse supply of domestic and increasingly clean resources, and 2021 electricity lessons continue to inform grid planning today. Unlike the volatile world oil market, New Mexico’s electric sector is regulated by the state’s utility commission. Adjusted for inflation, the price of electricity has been steady around the dollar-a-gallon equivalent mark in New Mexico for the last 20 years, while gas prices jump up or down radically and unpredictably.

$4.8 Billion in Reduced Electric Bills

While some warn that electric cars will challenge state power grids, New Mexico can charge millions of EVs without the need to make significant investments in the electric grid. This is because EVs can be charged when the grid is underutilized and renewable energy is abundant, like when people are sleeping overnight when wind energy generation often peaks. And the billions of dollars in new utility revenue from EV charging in excess of associated costs will be automatically returned to utility customers per an accounting mechanism that is already in state law that requires downward adjustment of rates when sales increase. Accordingly, widespread EV adoption could reduce every utility customer’s electric bill.

Thankfully, New Mexico’s electric industry is already acting to ensure utility customers in the state realize those benefits sooner rather than later. The state’s rural electric cooperatives have proposed an ambitious plan to leverage funds available as a result of the Volkswagen diesel scandal to build a state-wide public fast charging network that mirrors progress as Arizona goes EV across the Southwest. Additionally, New Mexico’s investor-owned utilities will soon propose transportation electrification investments as required by legislation NRDC supported last year that Governor Lujan Grisham signed into law.

$4.8 Billion in Societal Benefits from Reduced Pollution

The report estimates that widespread EV adoption would dramatically reduce emissions of greenhouse gases from passenger vehicles in New Mexico, and also cut emissions of NOx, a local pollutant that threatens the health off all New Mexicans, especially children and people with respiratory conditions. The report finds growing the state’s EV market to meet New Mexico’s long-term environmental goals would yield $4.8 billion in societal benefits.

The Bottom Line: New Mexico Should Act Now to Accelerate its EV Market

Adding it all up, that’s more than $30 billion in potential benefits to New Mexico by 2050. Here’s the catch: as of June 2019, there were only 2,500 EVs registered in New Mexico, which means the state needs to accelerate the EV market, as the American EV boom ramps up nationally, to capture those billions of dollars in potential benefits. Thankfully, with second generation, longer range, affordable EVs now available, the market is well positioned to expand rapidly as the state moves to adopt Clean Car Standards that will ensure EVs are available for purchase in the state.

Getting it right

New Mexico has enormous amounts to gain from a small investment in incentives that support EV adoption now. For that investment to pay off, it needs to send a clear and unambiguous signal. Unfortunately, the same legislation that would establish tax credits to increase consumer access to electric vehicles in New Mexico was recently amended so it would not be helpful for 80 percent of consumers who lease, instead of buying EVs. And it would penalize EV drivers at the same time—with a $100 annual increase in registration fees, even as Texas adds a $200 EV fee under a similar rationale, to make up for lost gas tax revenue. That’s significantly more than what drivers of new gasoline vehicles pay annually in gas taxes in the state. Consumer Reports recently analyzed the growing trend to unfairly penalize electric cars via disproportionately high registration fees. In doing so, it estimated that the “maximum justifiable fee” to replace gas tax revenue in New Mexico would be $53. Anything higher will only slow or stop benefits New Mexico can attain from moving to cleaner cars.

To be clear, everyone should pay their fair share to maintain the transportation system, but EVs are not the problem when it comes to lost gas tax revenue. We need a comprehensive solution that addresses the real sources of transportation revenue loss while not undermining efforts to reduce dependence on gasoline. Thankfully, that can be done. For more, see A Simple Way to Fix the Gas Tax Forever.

Related News

• Electricity Forum News

• EV Infrastructure News

British Columbia Electric Highway connects urban hubs and remote communities with 1,400+ EV charging stations, fast chargers, renewable energy, and clean transportation infrastructure, easing range anxiety and supporting climate goals across the province.

Key Points

A province-wide EV charging network for low-carbon travel with fast chargers in urban, rural and remote areas.

✅ 1,400+ stations across urban, rural, and remote B.C.

✅ Fast-charging, renewable-powered sites cut range anxiety

✅ Supports climate goals and boosts local economies

British Columbia has taken a significant step toward sustainable transportation with the completion of its Electric Highway, a comprehensive network of electric vehicle (EV) charging stations strategically placed across the province. This ambitious project not only supports the growing number of EV owners as the province expands EV charging across communities but also plays a crucial role in the province’s efforts to combat climate change and promote clean energy.

The Electric Highway spans from the southern reaches of the province to its northern edges, connecting key urban centers and remote communities alike. With over 1,400 charging stations installed at various locations, the network is designed to accommodate the diverse needs of EV drivers, ensuring they can travel confidently without the fear of running out of charge, with B.C. Hydro expansion in southern B.C. further bolstering coverage.

One of the standout features of the Electric Highway is its accessibility. Charging stations are located not only in urban areas but also in rural and remote regions, allowing residents in those communities to embrace electric vehicles, supported by EV charger rebates available provincewide.

The completion of the Electric Highway comes at a time when EV adoption is on the rise. As more consumers recognize the benefits of electric vehicles—including lower operating costs, reduced greenhouse gas emissions, and decreased dependence on fossil fuels—alongside rebates for home and workplace charging that reduce barriers—demand for charging infrastructure has surged. The Electric Highway provides the essential support needed to facilitate this shift, enabling residents and visitors to travel long distances with ease.

Moreover, the Electric Highway aligns with British Columbia’s climate goals. The province has set ambitious targets to reduce greenhouse gas emissions and transition to a low-carbon economy. By promoting electric vehicles and investing in charging infrastructure, British Columbia aims to lower emissions from the transportation sector, which is one of the largest contributors to climate change, with related efforts including electric ferries that complement road decarbonization. The completion of this highway is a significant milestone in the province’s journey toward a greener future.

The project has also garnered attention for its innovative approach to energy sourcing. Many of the charging stations are powered by renewable energy, further reducing their carbon footprint. This commitment to sustainability not only enhances the environmental benefits of electric vehicles but also reinforces British Columbia’s reputation as a leader in clean energy initiatives, including the $900 million hydrogen project advancing alternative fuels.

In addition to its environmental advantages, the Electric Highway has the potential to boost the local economy. As EV travel becomes more commonplace, businesses along the route can capitalize on increased foot traffic from travelers seeking charging options. This economic uplift is especially important for small towns and rural areas, where tourism and local commerce can thrive with the right infrastructure in place.

Furthermore, the completion of the Electric Highway is expected to catalyze further innovation in the EV sector. As charging technology continues to evolve, the province is poised to be at the forefront of advancements that enhance the EV driving experience. Initiatives such as ultra-fast charging and smart charging solutions could soon become the norm, making electric travel even more convenient.

The provincial government is also focusing on public awareness campaigns to educate residents about the benefits of electric vehicles and how to use the new charging infrastructure. By fostering a greater understanding of EV technology and its advantages, the government hopes to inspire more people to make the switch from gasoline-powered vehicles to electric ones.

In conclusion, the completion of the Electric Highway marks a transformative moment for British Columbia and its commitment to sustainable transportation. By providing a reliable network of charging stations, the province is making electric vehicle travel a reality for everyone, promoting environmental responsibility while supporting local economies. As more British Columbians embrace electric mobility, the Electric Highway stands as a testament to the province’s dedication to creating a cleaner, greener future for generations to come. With this essential infrastructure in place, British Columbia is paving the way for a new era of transportation that prioritizes sustainability and accessibility.

Related News

• Electricity Forum News

• EV Infrastructure News

EV Decarbonization Strategy weighs life-cycle emissions and climate targets, highlighting mode shift to public transit, cycling, and walking, grid decarbonization, renewable energy, and charging infrastructure to cut greenhouse gases while reducing private car dependence.

Key Points

A plan to cut transport emissions by pairing EV adoption with mode shift, clean power, and less private car use.

✅ Prioritize mode shift: transit, cycling, and walking.

✅ Electrify remaining vehicles with clean, renewable power.

✅ Expand charging, improve batteries, and manage critical minerals.

California recently announced that it plans to ban the sales of gas-powered vehicles by 2035, a move similar to a 2035 electric vehicle mandate seen elsewhere, Ontario has invested $500 million in the production of electric vehicles (EVs) and Tesla is quickly becoming the world's highest-valued car company.

It almost seems like owning an electric vehicle is a silver bullet in the fight against climate change, but it isn't, as a U of T study explains today. What we should also be focused on is whether anyone should use a private vehicle at all.
 
As a researcher in sustainable mobility, I know this answer is unsatisfying. But this is where my latest research has led.

Battery EVs, such as the Tesla Model 3 - the best selling EV in Canada in 2020 - have no tailpipe emissions. But they do have higher production and manufacturing emissions than conventional vehicles, and often run on electricity that comes from fossil fuels.

Almost 18 per cent of the electricity generated in Canada came from fossil fuels in 2019, and even as Canada's EV goals grow more ambitious today, the grid mix varies from zero in Quebec to 90 per cent in Alberta.
 
Researchers like me compare the greenhouse gas emissions of an alternative vehicle, such as an EV, with those of a conventional vehicle over a vehicle lifetime, an exercise known as a life-cycle assessment. For example, a Tesla Model 3 compared with a Toyota Corolla can provide up to 75 per cent reduction in greenhouse gases emitted per kilometre travelled in Quebec, but no reductions in Alberta.

Hundreds of millions of new cars

To avoid extreme and irreversible impacts on ecosystems, communities and the overall global economy, we must keep the increase in global average temperatures to less than 2 C - and ideally 1.5 C - above pre-industrial levels by the year 2100.

We can translate these climate change targets into actionable plans. First, we estimate greenhouse gas emissions budgets using energy and climate models for each sector of the economy and for each country. Then we simulate future emissions, taking alternative technologies into account, as well as future potential economic and societal developments.

I looked at the U.S. passenger vehicle fleet, which adds up to about 260 million vehicles, while noting the potential for Canada-U.S. collaboration in this transition, to answer a simple question: Could the greenhouse gas emissions from the sector be brought in line with climate targets by replacing gasoline-powered vehicles with EVs?

The results were shocking. Assuming no changes to travel behaviours and a decarbonization of 80 per cent of electricity, meeting a 2 C target could require up to 300 million EVs, or 90 per cent of the projected U.S. fleet, by 2050. That would require all new purchased vehicles to be electric from 2035 onwards.

To put that into perspective, there are currently 880,000 EVs in the U.S., or 0.3 per cent of the fleet. Even the most optimistic projections, despite hype about an electric-car revolution gaining steam, from the International Energy Agency suggest that the U.S. fleet will only be at about 50 per cent electrified by 2050.

Massive and rapid electrification

Still, 90 per cent is theoretically possible, isn't it? Probably, but is it desirable?

In order to hit that target, we'd need to very rapidly overcome all the challenges associated with EV adoption, such as range anxiety, the higher purchase cost and availability of charging infrastructure.
 
A rapid pace of electrification would severely challenge the electricity infrastructure and the supply chain of many critical materials for the batteries, such as lithium, manganese and cobalt. It would require vast capacity of renewable energy sources and transmission lines, widespread charging infrastructure, a co-ordination between two historically distinct sectors (electricity and transportation systems) and rapid innovations in electric battery technologies. I am not saying it's impossible, but I believe it's unlikely.

Read more: There aren't enough batteries to electrify all cars - focus on trucks and buses instead

So what? Shall we give up, accept our collective fate and stop our efforts at electrification?

On the contrary, I think we should re-examine our priorities and dare to ask an even more critical question: Do we need that many vehicles on the road?

Buses, trains and bikes

Simply put, there are three ways to reduce greenhouse gas emissions from passenger transport: avoid the need to travel, shift the transportation modes or improve the technologies. EVs only tackle one side of the problem, the technological one.

And while EVs do decrease emissions compared with conventional vehicles, we should be comparing them to buses, including leading electric bus fleets in North America, trains and bikes. When we do, their potential to reduce greenhouse gas emissions disappears because of their life cycle emissions and the limited number of people they carry at one time.

If we truly want to solve our climate problems, we need to deploy EVs along with other measures, such as public transit and active mobility. This fact is critical, especially given the recent decreases in public transit ridership in the U.S., mostly due to increasing vehicle ownership, low gasoline prices and the advent of ride-hailing (Uber, Lyft)

Governments need to massively invest in public transit, cycling and walking infrastructure to make them larger, safer and more reliable, rather than expanding EV subsidies alone. And we need to reassess our transportation needs and priorities.

The road to decarbonization is long and winding. But if we are willing to get out of our cars and take a shortcut through the forest, we might get there a lot faster.

Author: Alexandre Milovanoff - Postdoctoral Researcher, Environmental Engineering, University of Toronto 

Related News

• Electricity Forum News

• EV Infrastructure News

Canadian Electricity Innovation drives a customer-centric, data-driven grid, integrating renewable energy, EVs, storage, and responsive loads to boost reliability, resilience, affordability, and sustainability while aligning regulators, utilities, and policy for decarbonization.

Key Points

A plan to modernize the grid, aligning utilities, regulators, and tech to deliver clean, reliable, affordable power.

✅ Smart grid supports EVs, storage, solar, and responsive loads.

✅ Innovation funding and regulatory alignment cut long-term costs.

✅ Resilience rises against extreme weather and outage risks.

For more than 100 years, Canadian electricity companies had a very simple mandate: provide reliable, safe power to all. Keep the lights on, as some would say. And they did just that.

Today, however, they are expected to also provide a broad range of energy services through a data-driven, customer-centric system operations platform that can manage, among other things, responsive loads, electric vehicles, storage devices and solar generation. All the while meeting environmental and social sustainability — and delivering on affordability.

Not an easy task, especially amid a looming electrical supply crunch that complicates planning.

That’s why this new mandate requires an ironclad commitment to innovation excellence. Not simply replacing “like with like,” or to make incremental progress, but to fundamentally reimagine our electricity system and how Canadians relate to it.

Our innovators in the electricity sector are stepping up to the plate and coming up with ingenious ideas, thanks to an annual investment of some $20 billion.

#google#

But they are presented with a dilemma.

Although Canada enjoys among the cleanest, most reliable electricity in the world, we have seen a sharp spike in its politicization. Electricity rates have become the rage and a top-of-mind issue for many Canadians, as highlighted by the Ontario hydro debate over rate plans. Ontario’s election reflects that passion.

This heightened attention places greater pressure on provincial governments, who regulate prices, and in jurisdictions like the Alberta electricity market questions about competition further influence those decisions. In turn, they delegate down to the actual regulators where, at their public hearings, the overwhelming and almost exclusive objective becomes: Keeping costs down.

Consequently, innovation pilot applications by Canadian electricity companies are routinely rejected by regulators, all in the name of cost constraints.

Clearly, electricity companies must be frugal and keep rates as low as possible.

No one likes paying more for their electricity. Homeowners don’t like it and neither do businesses.

Ironically, our rates are actually among the lowest in the world. But the mission of our political leaders should not be a race to the basement suite of prices. Nor should cheap gimmicks masquerade as serious policy solutions. Not if we are to be responsible to future generations.

We must therefore avoid, at all costs, building on the cheap.

Without constant innovation, reliability will suffer, especially as we battle more extreme weather events. In addition, we will not meet the future climate and clean energy targets such as the Clean Electricity Regulations for 2050 that all governments have set and continuously talk about. It is therefore incumbent upon our governments to spur a dynamic culture of innovation. And they must sync this with their regulators.

This year’s federal budget failed to build on the 2017 investments. One-time public-sector funding mechanisms are not enough. Investments must be sustained for the long haul.

To help promote and celebrate what happens when innovation is empowered by utilities, the Canadian Electricity Association has launched Canada’s first Centre of Excellence on electricity. The centre showcases cutting-edge development in how electricity is produced, delivered and consumed. Moreover, it highlights the economic, social and environmental benefits for Canadians.

One of the innovations celebrated by the centre was developed by Nova Scotia’s own NS Power. The company has been recognized for its groundbreaking Intelligent Feeder Project that generates power through a combination of a wind farm, a substation, and nearly a dozen Tesla batteries, reflecting broader clean grid and battery trends across Canada.

Political leaders must, of course, respond to the emotions and needs of their electors. But they must also lead.

That’s why ongoing long-term investments must be embedded in the policies of federal, provincial and territorial governments, and their respective regulatory systems. And Canada’s private sector cannot just point the finger to governments. They, too, must deliver, by incorporating meaningful innovation strategies into their corporate cultures and vision.

That’s the straightforward innovation challenge, as it is for the debate over rates.

But it also represents a generational opportunity, because if we get innovation right we will build that better, greener future that Canadians aspire to.

Sergio Marchi is president and CEO of the Canadian Electricity Association. He is a former Member of Parliament, cabinet minister, and Canadian Ambassador to the World Trade Organization and United Nations in Geneva.

Related News

• Electricity Forum News

• Energy Policy News

Hydro One CEO Mark Poweska aims to rebuild ties with Ontario's provincial government, investors, and communities, stabilize the executive team, boost earnings and dividends, and reset strategy after the scrapped Avista deal and regulatory setbacks.

Key Points

He plans to mend government and investor relations, rebuild the C-suite, and refocus growth after the failed Avista bid.

✅ Rebuild ties with Ontario government and regulators

✅ Stabilize executive team and governance

✅ Refocus growth after Avista deal termination

The incoming chief executive officer of Hydro One Ltd. said Thursday that he aims to rebuild the relationship between the Ontario electrical utility and the provincial government, as seen in COVID-19 support initiatives, as well as ties between the company and its investors.

Mark Poweska, the former executive vice-president of operations at BC Hydro, was announced as Hydro One’s new president and CEO in March. His hiring followed a turbulent period for Toronto-based Hydro One, Ontario’s biggest distributor and transmitter of electricity, with large-scale storm restoration efforts underscoring its role.

Hydro One’s former CEO and board of directors departed last year under pressure from a new Ontario government, the utility’s biggest shareholder. Earlier this year, the company’s plan for a $6.7-billion takeover fell apart over concerns of political interference and the utility clashed with the new provincial government and Progressive Conservative Premier Doug Ford over executive compensation levels, amid rate policy debates such as no peak rate cuts for self-isolating customers.

Hydro One facing $885 million charge as regulator upholds tax decision forcing it to share savings with customers

Shares of Hydro One were up more than eight per cent year-to-date on Wednesday, closing at $21.74. However, the stock price was up only six per cent from Hydro One’s 2015 initial public offering price, something its incoming CEO seems set on changing.

“One of my first priorities will be to solidify the executive team and build relationships with the Government of Ontario, our customers, informed by customer flexibility research, and communities, indigenous leaders, investors, and our partners across the electricity sector,” Poweska said Thursday on a conference call outlining Hydro One’s first-quarter results. “At the same time, I will be working to earn the trust and confidence of the investment community.”

Hydro One reported a profit of $171 million for the three months ended March 31, while peers such as Hydro-Québec reported pandemic-related losses as the sector adapted. Net income for the first quarter was down from $222 million a year earlier, which was due to $140 million in costs related to the scrapping of Hydro One’s proposed acquisition of U.S. energy company Avista Corp.

Hydro One Ltd. appointed Mark Poweska as President and CEO.

In January, Hydro One said the proposed takeover of Spokane, Wash.-headquartered Avista, an approximately $6.7-billion deal announced in July 2017, was being called off. As a result, Hydro One said it would pay Avista a US$103 million break fee.

Revenues net of purchased power for the first quarter rose to $952 million, up by 15.4 per cent compared to last year, Hydro One said, helped by higher distribution revenues. Adjusted profit for the quarter, which removes the Avista-related costs, was $311 million, up from $210 million a year ago.

The company is hiking its quarterly dividend to 24.15 cents per share, up five per cent from the last increase in May 2018, while also launching a pandemic relief fund for customers.

Poweska is taking over for acting president and CEO Paul Dobson this month, and the new executive will be charged with revamping Hydro One’s C-suite.

The company’s chief operating officer, chief legal officer, and chief corporate development officer have all departed this year. The company’s chief human resource officer has retired as well, although Poweska did announce Thursday that he had appointed acting chief financial officer Chris Lopez as CFO.

“Hydro One’s significant bench strength and management depth will ensure stability and continuity during this period of transition, as the sector pursues Hydro-Québec energy transition as well,” the company said in its first-quarter earnings press release.

Ontario remains Hydro One’s biggest shareholder, owning approximately 47 per cent of the company.

Related News

• Electricity Forum News

• Utility Operations News