December 2, 2014 - Press releases
Montréal, December 2, 2014 – Gaz Métro welcomes the enhanced energy efficiency and conversion assistance measures for Québec businesses announced today by the Québec government on the occasion of its economic update.
With Phase 2 of the Cap-and-Trade system for greenhouse gas emission allowances about to take effect, Gaz Métro is very pleased to see these significant additional sums being made available to Québec businesses that are not “large emitters” (producing less than 25,000 tonnes of greenhouse gas a year). These businesses, which do not benefit from free allocations, will be required to cover all their greenhouse gas emissions produced by oil and natural gas combustion through their distributors. Starting on January 1, Cap-and-Trade costs to Québec's majority of natural gas consumers will be about 3.7 times higher than what they have been paying to the Green Fund. “We are pleased that the government has listened to industry concerns and that it is making $350 million available to companies so they can reduce their carbon footprints and possibly see their Cap-and-Trade charges come down instead of rising, which will inevitably be the case if they do not reduce their emissions,” said Stéphanie Trudeau, Vice President, Strategy, Communication and Sustainability at Gaz Métro.
The Minister of Finance announced increases to the ÉcoPerformance ($85 million by 2017-2018) and Écocamionnage ($15 million by 2017-2018) programs and to the Programme d'aide à l'amélioration de l'efficacité du transport maritime, ferroviaire, aérien (PETMAF) ($10 million by 2017-2018), as well as Development of new technologies or innovative processes ($45 million by 2019-2020), along with an additional $50 million in funding to help SMEs acquire, implement and commercialize technologies to reduce greenhouse gas emissions.
“This extra financial assistance will enable our clients to launch a greater number of large-scale energy efficiency projects. In addition, companies currently using dirtier fuels will be able to convert their facilities to natural gas, cutting their greenhouse gas emissions by about 30% and reducing their pollutant and particulate matter emissions even further. Lastly, these additional monies will clearly boost the use of natural gas as a fuel for both heavy vehicles and ships, resulting in a drop in greenhouse gas emissions of up to 25% when compared to diesel,” Trudeau concluded.
About Gaz MétroWith more than $5 billion in assets, Gaz Métro is a leading energy provider. It is the largest natural gas distribution company in Québec, where its network of over 10,000 km of underground pipelines serves 300 municipalities and more than 190,000 customers. Gaz Métro is also present in Vermont, where it has more than 305,000 customers. There, it operates in the electricity production market and the electricity and natural gas distribution market. Gaz Métro is actively involved in the development of innovative, promising energy projects such as the production of wind power, the use of natural gas as a transportation fuel and the development of biomethane. Gaz Métro is a major energy sector player that takes the lead in responding to the needs of its customers, regions and municipalities, local organizations, and communities while also satisfying the expectations of its Partners (GMi and Valener) and employees.