Toronto enters into 20MW contract with Direct Energy

subscribe

The City of Toronto has engaged Direct Energy, one of North America's largest energy and energy related services companies, to be one of its key retailers of power.

This is the latest in a series of recent deals in which Direct Energy has been selected to provide Canadian townships, municipalities and cities with energy solutions that help mitigate their energy price risk.

Direct Energy's fixed price contracts aid the City in managing the risk associated with electricity price volatility, allowing the City to gain greater control over power costs. This contract will allow the City of Toronto to help alleviate the budget certainty challenges that often affect cities, municipalities and communities throughout Canada.

"Following recent contract wins with the Region of Peel and the City of Vancouver, we have found that municipal leaders are turning to Direct Energy because of our high-quality service to have protection from price volatility, and range of strategies and products which are uniquely tailored to their communities," said Gary O'Neill, Director, Energy Solutions, Direct Energy Business.

The power contract was awarded following a competitive bidding process involving several companies. Direct Energy entered into an agreement to provide the City of Toronto with a portion of the City's power requirements through a contracted base load of 20MW of power, twenty-four hours a day, seven days a week.

"This win is representative of a growing consciousness among municipalities, townships, and cities for new ways to manage power costs. As a result of securing fixed price electricity contracts, such as the one from Direct Energy, the City of Toronto will be able to stabilize its electricity costs," said Gary O'Neill.

Related News

hydro meter

Ontario hydro rates set to increase Nov. 1, Ontario Energy Board says

TORONTO - The Ontario Energy Board says hydro rates for households and small businesses will be going up starting next week.

The agency says rates are scheduled to increased by about $1.99 or 1.8 per cent for a typical residential customer who uses 700 kilowatt hours per month.

The provincial government said in March it would continue to subsidize hydro rates and hold any increases to the rate of inflation.

The OEB says the new rates, which the board says are “in line” with inflation, will take effect Nov. 1 and could be noticed on bills within a few weeks of that date.

Prices…

READ MORE
ford car

Ford deal to build electric cars in Oakville comes amid $500M government cash to upgrade plant

READ MORE

trumps-oil-policies-spark-shift-in-wall-streets-energy-strategy

Trump's Oil Policies Spark Shift in Wall Street's Energy Strategy

READ MORE

renewable wind power

Renewable power developers discover more energy sources make better projects

READ MORE

canada-electricity-exports-at-risk-amid-growing-us-canada-trade-tensions

Canada's Electricity Exports at Risk Amid Growing U.S.-Canada Trade Tensions

READ MORE