September 13, 2010 - Press releases
Montréal, September 13, 2010 – Gaz Métro is proud of having obtained confirmation of the renewal of its exclusive right to distribute natural gas on its territory from the Québec government. This renewal strengthens the role of the gas utility for the next 30 years, much to the advantage of its thousands of customers and, more generally, to that of Québec society as a whole.
“For more than 50 years, Gaz Métro has constantly worked on developing its natural gas network in order to improve accessibility and offer an economic, reliable, and environmentally friendly energy source to a growing number of Quebecers. Today, we are proud of having obtained this renewal, which will enable us to continue our efforts to reach our objective of offering a high-quality energy service at the least possible cost for all sectors of the Québec economy – residential, commercial and industrial” said Sophie Brochu, President and Chief Executive Officer of Gaz Métro.
In Québec, natural gas helps meet fundamental needs for heating air and water and is essential to the processes of many large successful Québec industries, of which we are so proud. Today, the utility is the energy supplier of choice for some 180,000 customers, including 127,000 homes, almost 50,000 commercial and institutional customers, including schools and hospitals, as well as about 2,500 major industries.
As the exclusive gas distributor in Québec (except for the Outaouais region), Gaz Métro has developed expertise and know-how in the construction and operation of a reliable and safe gas network, a network that includes more than 10,000 km of pipelines in a dozen administrative regions. Gaz Métro invests more than $100 million each year in order to develop its network, maintain its reliability and ensure its sustainability.
Natural gas is a superior energy choice from both an environmental and economic point of view. Compared with fuel oil, it reduces greenhouse gas emissions by 3l%. Currently, it is competitive on all markets, and when compared with all forms of energy. On the business market, natural gas has been the least expensive energy for 11 years, thus contributing to improving the competitiveness of Québec companies. Moreover, a proposed average reduction of 4.7% on the distribution portion of rates is currently being considered by the Régie de l’énergie – which is even better news for customers.
Gaz Métro Overview
With over $3.6 billion in assets, Gaz Métro is Québec’s leading natural gas distributor. Operating in this regulated industry for over 50 years, Gaz Métro has become the trusted energy provider to some 180,000 customers in Québec and 136,000 customers in Vermont while developing the skills and expertise needed to diversify beyond natural gas. Gaz Métro’s prudent growth strategy has been marked by the successful entry into electricity distribution in Vermont and development of wind power projects in Québec. www.gazmetro.com
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