Generating strong returns
Ontario Power Generation (OPG) is Ontario’s largest generator of clean electricity, producing about half of the province’s power. Established under the Business Corporations Act (Ontario), OPG is wholly owned by the Province of Ontario. That means that it is not only our power that flows to the people of the province – our net income also helps fund important public services.
Financial profile at Dec. 31, 2023
0
billion in assets
0
billion in long-term debt including amounts due within one year
0
billion in equity attributable to the Shareholder
0
million net income attributable to the Shareholder in Q4 2023
Our core business
As of Dec. 31, 2023, OPG’s generation portfolio has an in-service generating capacity of 18,236 megawatts.
In Ontario, we own and operate:
- 66 hydroelectric stations
- 2 nuclear stations
- 1 biomass station
- 1 dual-fuelled oil and gas station
- 4 combined cycle gas turbine stations owned and operated by a wholly-owned subsidiary Atura Power
- 1 solar facility
OPG also owns a number of additional facilities in Ontario and the United States:
- OPG's US Hydroelectric Platform — OPG wholly or jointly owns and operates 85 hydroelectric generating stations and holds minority interests in 14 hydroelectric and two solar facilities in the United States through its US-based wholly-owned subsidiary, Eagle Creek Renewable Energy.
- Bruce nuclear stations — OPG also owns two other nuclear generating stations in Ontario that are leased to Bruce Power L.P.
Recognizing OPG's international ranking
OPG has a long-term credit rating of ‘BBB+’ from S&P Global Ratings (S&P), ‘A (low)’ from DBRS Limited, and ‘A3’ from Moody’s Investor Service.
Our roles and responsibilities as a power producer in Ontario, including our mandate, governance, performance, and communications, are outlined in a Memorandum of Agreement between OPG and its Shareholder, the Government of Ontario.
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