Ontario Power Generation produces almost half of the electricity that Ontario homes, schools, hospitals and businesses rely on each day. We are committed to ensuring our energy production is reliable, safe and environmentally sustainable for Ontarians today and for the future.
At the forefront of energy technologies, OPG phased out coal generation in 2014, which represents the single largest climate change initiative in North America. Today, the power we produce is more than 99 per cent free of greenhouse gas and smog causing emissions.
Our Core Business
At Sept. 30, 2017, OPG’s generating portfolio had an in-service capacity of 16,210 megawatts. We own and operate:
- 2 nuclear stations
- 66 hydroelectric stations on 24 river systems
- 2 biomass stations
- 1 thermal station
- 1 wind turbine.
OPG owns two other nuclear stations, which are leased to Bruce Power L.P. It is also a co-owner but not an operator of the Portlands Energy Centre in Toronto and the Brighton Beach gas-fired generating station in Windsor.
In the summer of 2015, OPG and its Shareholder, the Province of Ontario, revised the Memorandum of Agreement, regarding OPG’s roles and responsibilities as a power producer in Ontario. The Memorandum of Agreement serves as the basis of agreement between OPG and the Government of Ontario on OPG's mandate, governance, performance and communications.
Our Financial Profile
At Sept. 30, 2017, OPG had assets of $45.7 billion, long-term debt outstanding of $5.5 billion, including amounts due within one year, and equity attributable to the Shareholder of $10.9 billion. OPG’s net income attributable to the Shareholder in the third quarter of 2017 was $131 million.
OPG has a long-term credit rating of ‘BBB+’ from Standard & Poor’s (S&P) and ‘A (low)’ from DBRS.
Recent News and Reports
2017 Third Quarter Financial Results (PDF)
On Oct. 2, 2017, Ontario Power Generation Inc. (OPG or the Company) successfully closed its inaugural bond offering under a Medium Term Note Program. The $500 million unsecured 10-year bonds were priced with a coupon of 3.315%, payable semi-annually until maturity on October 4, 2027, and were placed with approximately 50 investors in the Canadian market place.
The offering was made under OPG’s $2 billion short form base shelf prospectus dated Sept. 12, 2017 and represents OPG’s first entry into the Canadian public debt market. The offering received positive interest from investors and enhances the Company’s financing flexibility. The net proceeds will be used for general corporate purposes and to finance a portion of OPG’s debt investment in Ontario’s Fair Hydro Plan.
The transaction was co-led by BMO and TD, with participation from OPG’s banking syndicate partners.