| 07/19/2007 - Greater Toronto Airports Authority Extends Energy Management Agreement with Energy Advantage |
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June 5 2007 - Energy Advantage Inc. announced that it will be providing energy management services to Toronto Pearson Airport, via the Greater Toronto Airports Authority (‘GTAA'), until 2012. Recognizing that demand would almost double from 26 million passengers in 1996 to 50 million passengers in 2020-2025, GTAA undertook major airport upgrades including a new terminal, parking facilities, runways and taxiways, lighting systems and other infrastructure. It also meant the airport would need more power. To meet this anticipated need, the GTAA launched an initiative to develop its own 117 MW cogeneration facility – one that will ensure a secure electrical supply, control costs, and utilize excess heat for all campus heating and cooling needs. The facility not only allows GTAA to generate electricity for its own stringent operating requirements, but also allows them to sell electricity back to the public grid. Energy Advantage, along with its sub-contractor on this project, WattsWorth Analysis Inc., were brought in to develop a model to optimize the operation of the co-generation plant including purchasing of natural gas for the facility and selling of electricity back to the Ontario Independent Electricity System Operator. "Energy supply is absolutely crucial to the GTAA and Toronto Pearson. We are on the phone with them every morning discussing the energy market, day-to-day operational items, and any other concerns. Collectively we make market calls and use smart energy buying and bidding strategies to ensure Toronto Pearson has reliable energy prices and supply", says Yvan Masse, Vice President of Commodities, Energy Advantage Inc. "GTAA's co-generation facility was one of the first of its kind in Ontario and it required development of a complex operational model. Our expertise in the wholesale electricity market was instrumental in the development of this model and helps ensure that GTAA's facility operates in an optimal manner", says Gary Tobin, President of WattsWorth Analysis Inc. Over the past 2 years, Energy Advantage and WattsWorth have been able to reduce the risk of the commodity market for GTAA, which has resulted in renewal and extension of Energy Advantage's energy management contract with the GTAA for a further 5 years through to 2011. "Energy Advantage's and WattsWorth's expertise in energy markets allows us to concentrate on our core strength of operating an airport. We know they are experts and we trust them to give us the best advice. They are always willing to get on the phone with us and help us make the right decisions related to energy whenever required", says Don Alarie, Director of Engineering for the GTAA. -30-
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