NEWS RELEASE
BOB CHIARELLI, MINISTER OF ENERGY
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Through the Industrial Electricity Incentive (IEI) program, Ontario is reducing electricity costs for job creators and increasing competitiveness for mining companies.
IEI participants receive a reduction in the associated costs of electricity in return for building new or expanding production at existing facilities.
Minister of Energy Bob Chiarelli was in Timmins today to specifically recognize Northern Ontario mining companies Alamos Gold Inc. and St Andrew Goldfields Ltd., who have received contracts under Stream 3 of the IEI program.
Alamos Gold is expanding its operations at the Young-Davidson mine, supporting more than 700 positions and creating 75 new jobs.
St Andrew Goldfields is expanding near Matheson, developing an underground gold mine with operations expected to start by the end of this year.
Building a safe, clean, reliable and affordable energy system is part of the government’s economic plan to build Ontario up and deliver on its number-one priority to grow the economy and create jobs.
The four-part plan includes investing in talent and skills, including helping more people get and create the jobs of the future by expanding access to high- quality college and university education.
The plan is making the largest investment in public infrastructure in Ontario’s history and investing in a low-carbon economy driven by innovative, high-growth, export-oriented businesses. The plan is also helping working Ontarians achieve a more secure retirement.
“This program was developed with large electricity consumers, like the mining industry, specifically in mind. IEI supports a dynamic and innovative business climate in which companies can reduce electricity costs and create jobs. Ontario’s government is committed to supporting a climate where businesses can continue to compete and succeed,” said Bob Chiarelli, Minister of Energy.
“IEI Stream 3 will help Alamos Gold expand our facilities, supporting and creating jobs near Timmins. Because of this program we’re creating 75 new jobs and expanding our output to 8000 tonnes per day. Cheaper power means great things for our company and this region,” said Luc Guimond, General Manager, Alamos Gold Inc.
QUICK FACTS
- IEI was launched in 2012 to assist in the management of electricity demand by encouraging increased industrial production through electricity-based price adjustments for eligible electricity consumption.
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Stream 3 of the IEI program expanded eligibility to sectors including greenhouses, refrigerated warehousing and data processing. Mining, quarrying, manufacturing, and oil and gas extraction companies continued to be eligible.
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Of the 25 applications received for IEI Stream 3 support, 15 accepted offers representing 0.85 TWh of contract volume.
