The Ontario Power Authority (OPA) quietly released their December 31, 2012 annual report to Energy Minister, Bob Chairelli with a cover letter dated April 2, 2013. The release of the report is simply announced on their website with no contact information given. The report “Innovating for a Sustainable Electricity System” is truly innovative in that no mention is made of the gas plant moves or the acquisition of the TransCanada gas turbines; the subject of so much media attention.
The acquisition of those turbines was covered in an earlier press release of December 17, 2012 wherein the OPA announced the contract to relocate the TransCanada gas plant to Napanee under the terms of a memorandum of understanding (MOU), had been signed. One of the conditions of the MOU was that the OPA would acquire the gas turbines for a price of $210 million and payment would be made ten (10) business days following the execution of the contract. As December 17th was the contract signing date settlement should have been in early January, a few days after the OPA's year-end and the auditors report (KPMG) should have resulted in some mention of that contract and the turbine purchase. Read more »
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