Hydro One - IPO Message Board

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Gold/Mining/Energy : Hydro One - IPO

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To: Copperfield who started this subject	5/1/2002 8:59:43 AM
From: Copperfield	of 52

New electricity era in Ontario has successful launch TORONTO, May 1 - The Independent Electricity Market Operator (IMO) said this morning that Ontario's new competitive electricity marketplace was successfully opened at midnight, Eastern Standard Time (1 a.m. Eastern Daylight Time). In the new wholesale electricity market, which is run by the IMO, generators and other suppliers compete to supply the electricity needs of the Ontario market. The IMO accepts offers from these suppliers and calculates a new "on the spot" market price (the market clearing price) every five minutes - by balancing the supply of electricity with demand at that particular time. At market opening, the first five-minute price for electricity was $25.43 MW/hr, or 2.54 cents KW/hr. Market demand was 14,500 MW. Ontario's new market has 239 participants: - 93 Local Distribution Companies - 89 Industrial Consumers - 19 Generators - 34 Wholesale Buyers/Sellers - 4 Transmitters The IMO will provide an update on market activity later today. Market highlights are available on the IMO website at theimo.com

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