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September 01, 2015 2:29 AM ET

Electric Utilities

Company Overview of Ontario Power Generation Inc.

Company Overview

Ontario Power Generation Inc. generates and sells electricity to homes, schools, hospitals, and businesses in Ontario, Canada. It operates through five segments: Regulated – Nuclear Generation; Regulated – Nuclear Waste Management; Regulated – Hydroelectric; Contracted Generation Portfolio; and Services, Trading, and Other Non-Generation. As of June 30, 2015, the company operates 2 nuclear generating stations, 3 thermal generating stations, 65 hydroelectric generating stations, and 2 wind power turbines with a total in-service capacity of 17,059 megawatts (MW). It also co-owns the 550 MW Portlands Energy Centre gas-fired combined cycle generating station along with TransCanada Energy Ltd.; a...

700 University Avenue

Toronto, ON M5G 1X6

Canada

Founded in 1998

9,667 Employees

Phone:

416-592-2555

Key Executives for Ontario Power Generation Inc.

Chief Executive Officer, President and Director
Age: 53
Chief Financial Officer and Interim Senior Vice President
Chief Ethics Officer, Senior Vice President of Law and General Counsel
Chief Nuclear Officer
Senior Vice President of Nuclear Projects
Compensation as of Fiscal Year 2015.

Ontario Power Generation Inc. Key Developments

Ontario Power Generation and Coral Rapids Power to Build New 28 Megawatt Hydroelectric Generating Station

Ontario Power Generation and Coral Rapids Power are building a new 28 megawatt hydroelectric generating station approximately 90 km north of the Town of Smooth Rock Falls. The $300 million project is expected to employ 220 workers at peak and be completed in 2018. The development will use a portion of the water flowing down New Post Creek to generate electricity by transporting water 250 meters from the intake via a penstock (large pipe) to the power house on the Abitibi River. The remaining water will continue to flow over the falls to restore its original beauty. The new station will be named in honor of a respected community elder, Peter Sutherland Sr., who was born 100 years ago this month and passed on in 1998. When in service, the Peter Sutherland Sr. Generating Station will provide clean, reliable hydroelectric power to up to 25,000 homes. Employment on the project is expected to peak at 220 workers, and be distributed across a wide variety of professions and trades typically associated with a remote heavy construction project. Labor needs will include: engineers, equipment operators (backhoe, crane, dozer), labour (e.g., general, skilled and unskilled), drillers, cement workers, ironworkers/rodmen, electricians, welders, carpenters and camp support services (e.g., catering, maintenance, clerical).

Ontario Power Generation Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2015

Ontario Power Generation Inc. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2015. For the quarter, revenue was $1,383 million against $1,098 million last year. Income before interest and income taxes was $268 million against $119 million last year. Net income attributable to the shareholder was $189 million compared to $115 million a year ago. Cash flow provided by operating activities was $450 million compared to $205 million a year ago. For the six months, revenue was $2,738 million against $2,485 million last year. Income before interest and income taxes was $610 million against $469 million last year. Net income attributable to the shareholder was $423 million compared to $357 million a year ago. Cash flow provided by operating activities was $905 million compared to $633 million a year ago. Return on common equity for the twelve months ended June 30, 2015 was 8.9% against 8.5% for the period ended December 31, 2014.

Ontario Power Generation Inc. Appoints Jeffrey J. Lyash as New President and CEO, Effective Aug. 21, 2015

Ontario Power Generation has named Jeffrey J. Lyash its new President and CEO, effective Aug. 21, 2015. Mr. Lyash joins OPG from CB&I Power where he headed one of the large U.S. power engineering, procurement and construction organizations. Mr. Lyash will take the helm of Ontario's large clean energy generator as the company prepares for Darlington Refurbishment and continues efforts to improve its financial results.

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