Ontario Power Generation
 |
|
| Crown corporation | |
| Industry | Electricity generation |
| Founded | 1999 |
| Headquarters |
Ontario Power Building Toronto, Ontario, Canada |
|
Key people
|
Jeff Lyash – President & CEO; Bernard Lord – Chair |
| Products | Electricity |
| Revenue |
 $4.73 billion CAD (2012) |
| Owner | Government of Ontario |
|
Number of employees
|
10,840 (2012) |
| Website | www.opg.com |
Ontario Power Generation (OPG) is a Crown corporation wholly owned by the Government of Ontario. OPG is responsible for approximately half of the electricity generation in the Province of Ontario, Canada. Sources of electricity include nuclear, hydroelectric, wind, gas and biomass. Although Ontario has an open electricity market, the provincial government, as OPG's sole shareholder, regulates the price the company receives for its electricity to be less than the market average, in an attempt to stabilize prices. Since 1 April 2008, the company's rates have been regulated by the Ontario Energy Board.
OPG was established in April 1999 under the Ontario Progressive Conservative government of premier Mike Harris as a precursor to deregulation of the province's electricity market. As part of government plans to privatize the assets of Ontario Hydro, the utility was split into five separate corporations. OPG was created as the owner and operator of all of Ontario Hydro's electricity generating stations.
Bernard Lord is Chairman of the Board of Directors. He was appointed as Chairman on 1 April 2014.
Jeff Lyash is the President and Chief Executive Officer of OPG. He was appointed to this position on 21 August 2015, when the previous President and CEO, Tom Mitchell retired.
Other current members of the Board include William A. Coley, John Herron, M. George Lewis, Peggy Mulligan, Gerry Phillips, Lisa DeMarco, Brendan Hawley, Ira Kagan, Nicole Boivin, Jean Paul (JP) Gladu, Yezdi Pavri and Jim Reinsch.
The financial situation at Ontario Power Generation has improved significantly since 2003. Its profits for 2005 were $366 million, and its credit rating was upgraded. In July 2006, Liberal Energy Minister Dwight Duncan described OPG's turnaround as "[o]ne of the untold stories of the last two years"
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Wikipedia