OMA supports new energy plan

The Ontario Mining Association says that it supports the government’s new initiative to strengthen the province’s economy by providing new tools for the mining industry to better manage electricity costs.

The proposed regulation change to the Global Adjustment charge will help encourage reduced electricity consumption during expensive peak periods and provide a greater degree of price certainty.

The anticipated starting date would be January 1, 2011.

OMA President Chris Hodgson (left) says: “Price stability is critical to the mining industry. The announcement by Energy Minister Brad Duguid assists mining companies in remaining competitive, protecting jobs and attracting new investment.”

The proposed change will allow mining operations in Ontario to control peak electricity usage and help reduce overall demand, better utilize electricity infrastructure and reduce emissions. The announcement is also looking forward and provides a boost to the future for mining in areas such as the “Ring of Fire.”