TEDA THRILLED WITH BCUC DECISION TO APPROVE
Terrace, BC
January 30, 2008
The Terrace Economic Development Authority (TEDA) is thrilled with the
decision of the British Columbia Utilities Commission to approve the 2007 Energy
Purchase Agreement (EPA) between Rio Tinto Alcan and BC Hydro.
The unconditional approval of the agreement fulfills the third of three conditions
set out by Alcan to proceed with its planned $2 billion modernization of the
Kitimat smelter. TEDA is hopeful Alcan’s board of directors will now approve the
modernization project.
The BCUC’s approval is a critical step forward in the process to make
modernization a reality, securing much-needed long-term jobs for the region.
“The Kitimat modernization project promises to inject millions of dollars into the
regional and provincial economy and will provide economic certainty for several
years to come,” says economic development officer Sam Harling.
Modernization will also mean a cleaner, greener smelter, sustainable
employment and a safer work environment.
“This is very exciting news for Terrace, Kitimat and the whole province – it’s been
a long journey to get to this point,” Harling says. “We extend our congratulations
to both Rio Tinto Alcan and BC Hydro on crafting an agreement which has met
the test of the BCUC.”
The Terrace Economic Development Authority is a public-private partnership
responsible for promoting the growth and diversification of Terrace’s economy.
TEDA helps develop economic infrastructure, facilitating new investment, and
acting as an advocate and advisor to local business.
