Toronto’s Commercial Buildings To Help Save 150 Megawatts of Electricity

Toronto (March 27, 2007) – A new program aimed at saving 150 Megawatts of electricity in Toronto – enough to power over 54,000 homes a year - was officially launched today.

Spearheaded by the Building Owners and Managers Association of Toronto (BOMA) in partnership with the Ontario Power Authority (OPA), the BOMA Toronto CDM Program will target commercial buildings throughout the city.

Already, the Program is receiving applications. For example, the Bank of Nova Scotia is planning to minimize its energy consumption and reduce its impact on the environmental.

"We're proud to be among the first applicants with the BOMA Toronto CDM Program," said Scotiabank Vice President David Morley. "We will be retrofitting and upgrading our lighting systems at Scotia Plaza and two other buildings. The expected energy savings will total 750 kW or 3.2 million kWh annually."

Manager of the BOMA Toronto CDM Program, explained that the program is open to both members and non-members of BOMA, and he expects strong and immediate interest. "The program window is relatively short – it expires in three years – and many of these major retrofits have long lead times. So we think we’ll see a lot of applications in the first several months."

This program will have positive benefits for everyone in Toronto. "It will help ease power demands during peak summer hours and reduce overall energy consumption," said BOMA Toronto Director Wayne Proulx. "It will mean less CO2 and other emissions from power generating plants. It will leverage private-sector capital spending, resulting in significant new projects that will help make Toronto’s commercial buildings among the most energy efficient in the world."

The OPA has allocated $75 million for this CDM Program over three years. The program target was established in February, 2006, when the Minister of Energy directed the OPA to create initiatives to reduce Toronto's electricity demand by more than 300 MW by 2010. BOMA Toronto, whose members represent the majority of commercial real estate in Toronto, stepped to the plate, and proposed to design and deliver a program. On January 18, 2007, the OPA signed an agreement with BOMA to reduce electricity consumption in Toronto's commercial buildings by 150 MW over that period.

BOMA hopes that the initiative will serve as a model CDM Program in other areas of the province. "By participating in this program, the commercial building sector is demonstrating its leadership in reducing energy consumption and helping to protect the environment. This is the beginning of something truly important, and we're tremendously pleased to part of this effort," said Mr. Proulx.

BOMA Toronto represents 750 members in the commercial real estate industry in the Greater Toronto Area. On behalf of the building owners, managers, developers, facilities managers, asset managers, leasing agents, brokers, and product and service providers, BOMA promotes excellence in the industry through information, education, advocacy, and recognition.

For more information visit the BOMA website at www.bomacdm.com or contact: