Enron Canada Rethinking 140-MW Sarnia Power Plant Plan
CALGARY - -- Enron Canada says it is reviving plans to build a C$200-million power plant in Ontario following signs a long-awaited date for market opening has been set for March 1, 2002.
The Calgary-based subsidiary of Enron Corp. (ENE) had put the 140-megawatt Moore project near Sarnia on hold earlier this year after the market opening date was set back from May to possibly this fall.
"We're disappointed that November was missed, but I think that the (Ontario Energy Board and Independent Electricity Market Operator) have worked well together to come up with a process to ensure all market participants have reason to be ready for March 1," Rob Milnthorp, president, said. "We're very optimistic that the market will now in fact open March 1."
The provincial agencies set new deadlines for wholesale and retail market readiness testing this week, adding late fines of up to C$10,000 a day to retailers that don't meet the December and February dates.
Enron will be reevaluating the Moore project over the next month based on technical issues and new market calculations for the spring, Milnthorp said. The corporation has already invested US$50 million in land and turbines needed for the plant.
"The one thing that we were missing is that we had a conditional market opening, and we think that with the announcement that the OEB and the IMO have come out with we have much more solid footing than we had in the past," Milnthorp said.
However, he said much of the decision to proceed with the project hangs on the Ontario government confirming a date be met unconditionally.
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