Ontario, February 2, 2011 — FortisOntario, a unit Fortis Inc., and First Nations' Lake Huron Anishinabek Transmission Co. Inc. announced that FortisOntario and LHATC have entered into a memorandum of understanding for a joint venture to develop, construct and operate regulated electricity transmission projects in Ontario.
LHATC represents First Nations who are signatories or are adherent to the Robinson-Huron Treaty of 1850. FortisOntario will hold a minimum 51 percent interest, with LHATC having the rights to acquire up to a 49 percent equity interest, in the joint venture.
The Ontario Energy Board recently issued a Framework for Transmission Project Development Plans, which encourages competition for new transmission investment in Ontario through a formal competitive designation process for projects identified by the Ontario Power Authority, the transmission planner for the Province of Ontario.
The framework was issued in response to the investment required in Ontario's transmission system to build additional capacity to accommodate new renewable energy supply and upgrade the aging transmission infrastructure to ensure a safe, reliable and efficient system over the long term.