Orillia Power Corporation is reporting big improvements in its operating results.
Representatives of OPC made a presentation to Orillia City Council last evening outlining the kind of year 2010 was for the corporation.
President John Mattinson reports a 98 percent increase in power generation revenues.
The report identifies a new contract signed with the Ontario Power Authority as a major factor in the improved performance.
That contract guarantees a minimum price for all power generated by the company over the next 20 years – which OPC says will result in long term price stability.
Despite a 3 percent rate increase – which went into effect in May 2010 – Mattinson says residential customers in Orillia continue to pay a rate which is better than 90 percent of what other residents across Ontario pay.
Also due to improved financial performance in 2010 is this years increase in the annual dividend paid to the City of Orillia – 2 million dollars up from 500 thousand the previous year.
Mattinson is most proud of OPC’s safety record – having gone 8 years as of the end of 2010 without any lost-time accidents – a feat recognized by the Electrical Safety Authority.
