Tembec fully supports Ontario's energy conservation proposal

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Tembec fully supports Ontario's energy conservation proposal

August 17, 2010 - 17:08
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TEMISCAMING, QC, Aug. 18, 2010 (CNW) -Tembec today indicated its full support for an energy conservation program announced earlier today by Ontario Energy and Infrastructure Minister Brad Duguid. The Company believes this program will encourage energy management practices that will have both a positive environmental impact and a positive impact on the competitiveness of several key Ontario industries.

The initiative will create a policy that rewards investments in efficiency and demand management and recognizes energy efficient practices by large industrial users. It will essentially bring the concept and benefits of time of use power currently available to residential users to industrial consumers.

"This program will result in energy, environmental and economic benefits-a great combination. By encouraging a shift away from peak demand periods, both the need for and use of peaking plants will be lessened, resulting in a reduced reliance on fossil fueled facilities," said Jim Lopez, Tembec's President and CEO. "With an industrial time of use framework available, the average cost of power, a critical cost element for many industries, will be lower. This will result in improved competitiveness and greater potential for job security."

"This initiative comes at a critical time for the Ontario economy generally and the Northern Ontario economy in particular. Tembec fully supports this initiative," concluded Mr. Lopez.