Electricity Distributors Association, Ontario Power Generation Launch $5-Million "LDC Tomorrow Fund" Fund to fuel energy innovation and opportunity in competitive marketplace

- Toronto, The Electricity Distributors Association (EDA) and Ontario Power Generation (OPG) have joined forces to create a $5-million legacy trust fund called the "LDC Tomorrow Fund".

Designed to sponsor research projects and finance energy innovation and opportunities for local distribution companies (LDCs) in the competitive marketplace, the fund will operate much like a research and development fund. OPG is contributing $2.5 million on its behalf, and $2.5 million on behalf of OntarioÂ’s LDCs to establish the fund.

"The LDC Tomorrow Fund is a creative way to fuel innovation and help local distribution companies  the utilities on the front lines of the electricity industry  to explore opportunities created by a competitive market on behalf of end-use customers," said Charlie Macaluso, CEO of the EDA.

In announcing the LDC Tomorrow Fund, Macaluso and Gordon McBrien, Director, Strategic Business Relations, OPG Energy Markets, provided details of the first two "LDC Tomorrow Fund" projects, which will be funded with up to $250,000. The first is the creation of a web portal that will enable LDCs to exchange information, experience and solutions relating to market readiness challenges commonly faced by them. The second is the design and establishment of a SWAT-style capability to audit  at their request  individual LDC readiness activities and provide tailored assistance to them on specific market readiness needs. Both projects are expected to be up and running soon.

McBrien noted that, "Ontario Power Generation is pleased to participate in an initiative that helps drive innovative projects and encourages new ways of doing business, while maximizing job creation and investment in the electricity industry."

On an ongoing basis, a four-person board comprised of two representatives from the EDA and two from OPG, will invite local electricity distribution companies, the government and academia to submit project proposals; the board will then determine how funds will be allocated and co-ordinate the projects.

Ontario Power Generation is an Ontario-based company, whose principal business is the generation and sale of electricity to customers in Ontario and to interconnected markets. OPGÂ’s goal is to be a premier North American energy company, while operating in a safe, open and environmentally responsible manner. Its focus is on producing reliable electricity from its competitive generation assets; power trading; and commercial energy sales activities.

The Electricity Distributors Association  formerly known as the Municipal Electric Association (MEA)  is the voice of Ontario’s local electricity distributors  the publicly and privately owned companies that safely and reliably deliver electricity to more than four million Ontario homes, businesses and public institutions. The EDA provides members with advocacy and representation in the legislative and regulatory environment and the electricity market in Ontario.