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The Ontario Power Authority today officially launched a new energy-efficiency program to reduce electricity use and increase competitiveness for large industrial companies that are directly connected to the electricity transmission system.
The Industrial Accelerator is a five-year program that provides attractive financial incentives to speed up investment in electricity-saving projects. Participating companies will contractually commit to achieve specific conservation targets within a set period of time and to maintain them over the term of the contract.
Electricity conservation is one of the best ways to manage energy costs, creating lasting operational savings and reducing companies' draw on the electricity system. The Industrial Accelerator program is designed to deliver bottom-line results for participating companies:
"For Ontario to thrive, Ontario businesses must thrive," said Brad Duguid, Minister of Energy and Infrastructure. "Partnering with our largest energy consumers to reduce their energy use will enhance their long-term competitiveness and is part of Ontario's transformation from being a leader in consumption to a leader in conservation."
Ontario's industrial sector is made up of more than 20,000 small, medium and large companies that account for approximately one-third of all electricity use in Ontario. Within the sector, 45 large industrial companies directly connected to the
The Industrial Accelerator is a five-year program that provides attractive financial incentives to speed up investment in electricity-saving projects. Participating companies will contractually commit to achieve specific conservation targets within a set period of time and to maintain them over the term of the contract.
Electricity conservation is one of the best ways to manage energy costs, creating lasting operational savings and reducing companies' draw on the electricity system. The Industrial Accelerator program is designed to deliver bottom-line results for participating companies:
- Financial incentives will cover up to 70% of eligible capital costs.
- Energy-efficiency projects offer potential electricity cost savings as high as 30%.
- Support is offered for high-performance industrial installations that improve productivity and competitiveness.
- The program could significantly reduce the demand on the electricity system from some of Ontario's largest electricity
- The program will also help drive the development of green technology and jobs in the province. Over seven years, this program will create an estimated 5,500 net jobs.
"For Ontario to thrive, Ontario businesses must thrive," said Brad Duguid, Minister of Energy and Infrastructure. "Partnering with our largest energy consumers to reduce their energy use will enhance their long-term competitiveness and is part of Ontario's transformation from being a leader in consumption to a leader in conservation."
Ontario's industrial sector is made up of more than 20,000 small, medium and large companies that account for approximately one-third of all electricity use in Ontario. Within the sector, 45 large industrial companies directly connected to the
Sales of power transmission/motion control (PT/MC) products by U.S. manufacturers sales rose 2.0 percent while sales by Canadian manufacturers dropped 13.1 percent in May, according to sales data released by the 
Sales of power transmission/motion control (PT/MC) products by U.S. manufacturers sales rose 2.0 percent while sales by Canadian manufacturers dropped 13.1 percent in May, according to sales data released by the 
