North Bay, Ontario
The North Bay Project, which commenced commercial operation in 1996, is a 40 MW gas-fired enhanced combined-cycle generating facility located in North Bay, Ontario adjacent to the TransCanada Mainline. The project is not currently in operation.
North Bay had sold electricity to the Ontario Electricity Financial Corporation (OEFC) under a long-term PPA that was scheduled to expire in December 2017, but in December 2016, in response to oversupply conditions in Ontario, Atlantic Power reached agreement with the OEFC to terminate the PPA and replace it with a short-term enhanced dispatch contract with the Ontario Independent Electricity System Operator (IESO). The short-term contract, which expired in December 2017 and was not extended, did not require the plant to operate.
The Company has the option of returning the project to service should market conditions improve in the future, an event that is unlikely in the near term based on the current supply and demand outlook for the Province.
Atlantic Power indirectly owns 100% of North Bay, which was acquired as part of the Capital Power Income LP acquisition in November 2011. Atlantic Power also manages the Project.