OPG reports $623 million profit
OPG says it increased its earnings from investment funds due to improved global financial markets.
These funds were established to provide for the future costs of OPG's nuclear fixed-asset removal and nuclear waste management liabilities.
OPG president and CEO Tom Mitchell says he is pleased to achieve this level of income in the face of "challenging electricity demand conditions."
He says the utility produced less electricity due to lower demand and the utility also faced lower spot electricity market prices.
Despite the lower demand, says Mitchell, OPG's nuclear, hydroelectric and thermal generating stations achieved high levels of reliability.
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Cyprus can’t delay joining the electricity highway
CYPRUS - Electricity interconnectors bridging Cyprus with the broader geographical region are crucial for its diplomacy while improving its game to become a clean energy hub.
In an interview with Phileleftheros daily, Andreas Poullikkas, chairman of the Cyprus Energy Regulatory Authority (CERA), said electricity cables such as the EuroAsia Interconnector and the EuroAfrica Interconnector, could turn the island into an energy hub, creating investment opportunities.
“Cyprus, with proper planning, can make the most of its energy potential, turning Cyprus into an electricity producer-state and hub by establishing electrical interconnections, such as the EuroAsia Interconnector and the EuroAfrica Interconnector,” said Poullikkas.
He said these…
