October 02, 2014 2:31 AM ET

Electric Utilities

Company Overview of Ontario Power Generation Inc.

Company Overview

Ontario Power Generation Inc. generates and sells electricity on regulated and non-regulated basis in Ontario, Canada. It operates through Regulated – Nuclear Generation, Regulated – Hydroelectric, Unregulated – Hydroelectric, Unregulated – Thermal, Regulated – Nuclear Waste Management, and Other segments. The company operates 2 nuclear generating stations, 5 thermal generating stations, 65 hydroelectric generating stations, and 2 wind power turbines with a total in-service capacity of 16,229 megawatts. It also co-owns the Portlands Energy Centre gas-fired combined cycle generating station along with TransCanada Energy Ltd.; and the Brighton Beach gas-fired combined cycle generating station ...

700 University Avenue

Toronto, ON M5G 1X6

Canada

Founded in 1998

10,270 Employees

Phone:

416-592-2555

Key Executives for Ontario Power Generation Inc.

Chief Executive Officer
Age: 58
Chief Financial Officer and Interim Senior Vice President
Chief Ethics Officer
Chief Risk Officer and Senior Vice President of Corporate Business Development
Senior Vice President of Commercial Operations & Environment
Compensation as of Fiscal Year 2014.

Ontario Power Generation Inc. Key Developments

Ontario Power Generation Inc. Reports Financial and Operating Results for the Second Quarter and Six Months Ended June 30, 2014

Ontario Power Generation Inc. reported financial and operating results for the second quarter and six months ended June 30, 2014. Net income attributable to the province for the second quarter of 2014 was $115 million compared to $73 million for the same quarter in 2013. Revenue was $1,098 million compared to $1,190 million for the same quarter in 2013. Income before interest and income taxes was $119 million compared to $115 million for the same quarter in 2013. Net income was $116 million compared to $73 million for the same quarter in 2013. Cash flow provided by operating activities was $205 million compared to $347 million for the same quarter in 2013. OPG's income before interest and income taxes from the electricity generation business segments was $100 million in the second quarter of 2014, compared to $118 million in the same quarter of 2013. The decrease was a result of lower earnings from OPG's regulated segments, primarily due to higher Operations, maintenance and administration expenses related to planned outage activities. The decrease from the regulated segments was partially offset by higher earnings from the Contracted Generation Portfolio segment. Net income attributable to the province for the six months ended Jun. 30, 2014 was $357 million compared to $101 million for the same period in 2013. The improvement was also due to higher earnings from the Used Fuel Fund, and higher generation revenue from generating stations included in the Lower Mattagami River project and the Thunder Bay generating station (GS). Revenue was $2,485 million compared to $2,445 million for the same period in 2013. Income before interest and income taxes was $469 million compared to $172 million for the same period in 2013. Net income was $359 million compared to $101 million for the same period in 2013. Cash flow provided by operating activities was $633 million compared to $592 million for the same period in 2013. Return on common equity was 4.3% as on June 30, 2014 compared to 1.5% for the twelve months ended December 31, 2013. The increase in income before interest and income taxes of $10 million for the Services, Trading, and other Non-Generation business segment for the first half of 2014 was primarily a result of higher trading margin for electricity sold to neighbouring energy markets. Total electricity generation was 19.8 TWh, compared to 20.0 TWh for the same quarter in 2013. This decrease was mainly due to lower generation from the hydroelectric stations prescribed for rate regulation effective Jul. 1, 2014. Total electricity generation for the six months ended June 30, 2014 was 40.3 TWh, compared to 41.3 TWh for the same period in 2013. This decrease was mainly due to lower generation from the Contracted Generation Portfolio segment and lower production from the hydroelectric stations subject to rate regulation effective July 1, 2014.

Ontario Power Generation Inc. Presents at Canadian Hydropower Association Forum 2014, May-27-2014 through May-28-2014

Ontario Power Generation Inc. Presents at Canadian Hydropower Association Forum 2014, May-27-2014 through May-28-2014. Venue: Fairmont Château Laurier, 1 Rideau Street, Ottawa, Ontario, Canada. Presentation Date & Speakers: May-27-2014, Daniel Gibson, Senior Environmental Scientist, John Lee, Vice President - Treasurer. May-28-2014, Joe Heil, Director, First Nations and Métis Relations.

Ontario Power Generation Inc. Reports Unaudited Consolidated Financial and Operating Results for the First Quarter Ended March 31, 2014

Ontario Power Generation Inc. reported unaudited consolidated financial and operating results for the first quarter ended March 31, 2014. For the quarter, the company reported revenue of $1,387 million against $1,255 million a year ago. Income before interest and income taxes was $350 million against $57 million a year ago. Net income attributable to the Province was $242 million against $28 million a year ago. This increase was primarily due to the favourable impact of higher market prices resulting in higher revenue from electricity sales in the inter-jurisdictional market. Total income before interest and income taxes was $350 million against $57 million a year ago. Cash flow provided by operating activities was $428 million against $245 million a year ago. Return on common equity for the twelve months ended March 31, 2014 was 3.8% against 1.5% a year ago. For the quarter, the company reported total electricity generation of 20.5 terawatt hours (TWh) compared to 21.3 TWh for the same period in 2013. This decrease was mainly due to ending coal-fired operations at the Nanticoke GS and the Lambton GS in 2013.

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