Contracts

On the energy supply side, the City of Toronto purchases natural gas from suppliers and manages electricity purchase contracts. The nature of these contracts, administered by the Energy and Waste Management Office (EWMO), puts the City in control of its energy costs.

Natural gas direct contract details:

• rolling contracts started in 2004 with multiple suppliers
• covers about 1,150 accounts totalling about 88 million cubic meters of gas annually
• provides price stability and budget certainty
• gives the City the opportunity to buy gas at the best available price
• builds a portfolio of prices and terms to manage price risk

Electricity hedge arrangement details:

• rolling contracts started in 2007 with multiple companies
• covers about 4,000 accounts totalling about 2 billion kilowatt-hours of electricity annually
• builds a portfolio of prices and terms to manage price risk
• gives the City the opportunity to buy electricity at the best available price
• all electricity accounts consolidated into one invoice and paid electronically