ArcelorMittal Dofasco has taken on two upgrades that are expected to achieve an electricity savings equivalent to amount used by 19 thousand homes on an annual basis.
The province has stepped in with 40 million in grants through the Industrial Accelerator program to make this a reality.
The first is the the 15-million dollar Turbo Generator 2 project that has been in operation since April.
It involves the use of a 12.5 megawatt steam turbine generator that takes surplus steam and turns it into electricity.
The second is the 112-million dollar Utilities Boiler and Generation project.
Slated for completion in 2018, it will use waste gases from the steel making process to then produce steam to generate electricity.
Together, approximately 170 thousand megawatt hours will be saved annually.
Minister of Energy, Glenn Thibeault says those savings will be passed along in the form of dollars and cents.
“Programs like this, today, are actually saving this company tens of millions of dollars but at the same time it’s also conserving energy and by doing that we’re driving rates down” he said.
To those feeling the pinch when their bill rolls in he said “there are programs out there that people can actually use that will help lower those rates.”
“It’s not something that I’m going to sit on my laurels and say, you know, we’ve done everything” he said, “we’re going to continue to look at all options to find those that are having a tough time with their rates.”
In terms of the manufacturing industry, Sean Donnelly, President and CEO of ArcelorMittal Dofasco says the company spends 135 million dollars on electricity per year.
The Industrial Accelerator program, he says, will help mitigate some of the increasing costs by saving 30 megawatts of power in a 225 megawatt operation.