Canadian Commitment to Renewable Energy

Ontario Power Generation (OPG), a generator and seller of electricity, announced that RBC Financial Group, a financial institution and company by market capitalization, has renewed its commitment OPG Evergreen Energy Green Power.

Toronto, Canada – September 11, 2003 [] Over the next year, RBC Financial Group will again buy 1,000 MW hours of green power, electricity produced from renewable sources such as wind, low-impact hydroelectric, biomass and solar, from OPG for use at its commercial sites throughout Ontario. All OPG’s products are produced by facilities that have been EcoLogo certified, or equivalent, under the federal government’s Environmental Choice Program. “RBC is committed to saving energy and contributing to a cleaner environment through the use of Green Power,” said Maria Cristiano, of RBC’s real-estate operations. “We realize that sustained economic growth and a sound environment are inextricably linked. Purchasing Green Power is just part of a larger environmental picture for RBC Financial Group.” In 2002, RBC was named to the Dow Jones Sustainability Index list, an index that recognizes financial, social and environmental leaders, for the third consecutive year. RBC reported that energy consumption decreased for all its utilities – electricity use was down 4.8 percent; natural gas was down 5.4 percent, and the company decreased its use of oil by 10.2 percent. Pete Sprukulis, Vice-President, Marketing, at Ontario Power Generation, said that the decision by RBC Financial Group to renew its commitment to Green Power is an example that companies throughout Ontario should follow. “There is definitely a growing environmental awareness throughout the province; with that awareness has come an increasing interest in Green Power,” said Sprukulis. “When corporate leaders like RBC make a commitment to OPG Evergreen Energy Green Power, they support the development of a market for renewable energy sources.” OPG Green Power is drawn from a renewable energy pool that is expected to grow in line with market demand. OPG Green Power is generated exclusively at facilities that are EcoLogo certified or the equivalent, and that exceed the rigorous requirements outlined by federal legislation. All OPG injections of Green Power into the Ontario grid on behalf of customers will be tracked, verified, and audited, if necessary, by an independent third party. OPG is selling environmentally friendly electricity directly to large industrial and commercial organizations and to energy resellers. It does not supply the residential market directly.
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