Updated Program

as of November 21, 2003

IPPSO 2003 Conference

Completing the Power Equation:

What’s missing from the electricity market in Ontario?

November 25 & 26, 2003

Metro Toronto Convention Centre, South Building, Toronto, Ontario, Canada

Featuring the Green Power Conference

(See below for program details)

Ontario’s power market has had its share of setbacks and challenges in the first year and a half, yet participants widely believe that the fundamentals are sound and the outstanding issues are amenable to a rational problem-solving process. Identifying the deficiencies that are most critical and the options for addressing them will be the chief focus of this landmark event. To achieve workable solutions, co-ordinated attention will have to be paid to the reliability requirements of the system, the commercial needs of participants, and the performance expectations of society at large. The central question which speakers will be asked to address: How to instill confidence that the Ontario market is an attractive place for long-term business investment.

All sessions will take place in the Metro Toronto Convention Centre, South Building, Room 801 A&B, unless otherwise specified.

Day 1 - Tuesday, November 25, 2003

7:30 am           Daybreak coffee

Hosted by Access Capital and Northland Power

8:00 am           Introductions by Conference Chairman, Safouh Soufi, SMS Energy-Engineering

The State of the Market

In speaking to “What’s missing from the electricity market in Ontario” panelists will address both whether it’s providing short term signals for efficient behaviour (through the hourly market, MIO, DAM, etc.) while also working to support the long-term stability and liquidity of the forward market (through LTRA, dependable demand response, bilateral contracting LMP, transmission planning, etc.) Each speaker will offer suggestions on how to address perceived market weaknesses where they exist.

8:15 am           Keynote Speaker: Dave Goulding, CEO, Ontario Independent Electricity Market Operator

Questions and discussion

Concluding remarks by Donald Gibson, McCarthy Tetrault

9:00 am           Sectoral Leaders Panel: What concerns are uppermost for the coming year?

Moderator: George Vegh, Macleod Dixon LLP

Charlie Macaluso, CEO, Electricity Distributors Association

Mary Ellen Richardson, President, Association of Major Power Consumers in Ontario

Judith Andrew, Canadian Federation of Independent Business

David McFadden, Chair, Stakeholders Alliance for Competition

John Brace, President, IPPSO

Julie Girvan, Consumers Association of Canada

Questions and discussion

10:15 am         Coffee Break

Hosted by AMEC

Market Regulation

11:00 am         How the Energy Board’s mandate impacts the achievement of the market’s objectives

Major change has been introduced in the mandate and legislation governing the Ontario Energy Board. How will this affect the market and how should participants expect to adjust their plans and practices to adapt to the new arrangements? If the objectives of the market are efficiency, reliability and competitive pricing, is the regulatory system taking us in the right direction?

Introduction: Phil Symmonds, Torys

Keynote: Howard Wetston, Chair, Ontario Energy Board

How the mandate of the Energy Board is being translated into actions to address the central objectives in the electricity market.

How Regulatory Reform will affect the energy market

Legal experts will present a quick-take version of their views on the following topical regulatory fronts: Transmission planning, consumer protection, obligation to supply, obligation to build, market power mitigation, upholding of rules designed for facilitation of competition, and who “owns” what responsibilities?

Moderator: David Lever, McCarthy Tetrault

David Brown, Stikeman Elliott LLP

Mark Rodger, Borden Ladner Gervais LLP

Tom Brett, Gowlings LLP

Peter Budd, Power Budd LLP

12 noon           Lunch in the Trade Show

Hosted by Stikeman Elliott

Market Development / Investment Prospects

1:30 pm          New Investment in the Ontario Electricity Sector

What signals do investors think they need to send capital here? What instruments are used elsewhere? Where are the strategic opportunities?

Moderator: Rod Macgillivray, CIBC World Markets

Part 1: What’s required to attract investment in generation?

John Young, Senior Vice President, Infrastructure and Legal Services, Borealis Capital Corporation

Michael Hogan, Senior Vice President, Upstream Gas and Power Generation, Direct Energy

Part 2: What’s required to attract longer-term investment in clean technologies?

Dr. Vicky J. Sharpe, CEO and President, Sustainable Development Technology Canada

2:30 pm          Coffee Break

Hosted by Miller Thomson and Navigant

Market Operation

3:00 pm          The practical options for redressing weaknesses in the system

How can the actual system be made more reflective of the principles it was intended to enact?

Moderator: Safouh Soufi, SMS Energy-Engineering

Kim Warren, IMO: Reliability in the context of NERC’s findings on the blackout

- Review of the events leading up to the blackout from the NERC report

- Ontario specific issues

- Direction of blackout investigation efforts - IMO, NPCC, NERC

Bob Gibbons, IMO: Generation planning and the capacity picture for Ontario over the next 5 - 10 years - what do the forecasts mean and how do they help participants?

- Methodology used and industry standards

- Review of 18 month and 10 year outlooks

- Impact of reserve shortfalls on the market

Don Tench, IMO: Where is the congestion on the IMO-controlled grid, and why so many seem to experience a shortage of information about congestion.

- Summary of where congestion historically occurs, frequency and magnitude

- Effects of congestion on the market (constrained on/off)

- Lake Erie circulation and it's impact on TLR's

- Managing congestion in the control room - tools, dispatch etc.

4:30 pm          Annual General Meeting of IPPSO

Location: Room 802A

5:00 pm          Reception in the Trade Show

Hosted by Torys LLP

6:00 pm          Banquet Dinner

Location: Room 701 A&B

Hosted by Borden Ladner Gervais LLP

Keynote: The Hon. Dwight Duncan, Minister of Energy

Hedley Palmer Award

Day 2 - Wednesday, November 26, 2003

8:00 am           Daybreak Coffee

Hosted by Probyn and Company and Sun Life Financial

Market Development

Break into three simultaneous streams: Market Operation, Transmission and Green Power

Stream 1: Current Developments in Market Operation

9:00 am           Ontario’s Long-Term Resource Adequacy mechanism and consumer protection

What will it take to ensure adequate supply and system reliability in Ontario along with moderate prices? How much reliability should be considered a public necessity and how much a private good? Do we need a NERC-style reliability standard? The assessment of a market’s dynamic efficiency in practice hinges on a clear understanding of how adequacy will be assured, but how can this be reasonably accomplished? How are LTRA mechanisms expected to interact with transmission system planning and other market features?

Moderator: David Brown, Stikeman Elliott LLP

Jason Chee-Aloy, IMO, Independent Market Operator

David Brown, Ontario Energy Board

Carmine DiRuscio, Enersource

Rob Cary, Robert Cary & Associates Inc

10:00 am                     Coffee Break

Hosted by Power Budd LLP

10:30 am         Day Ahead Market and LMP: What are the implications for market participants?

Moderator: David Brown, Stikeman Elliott LLP

Len Kula, IMO Independent Electricity Market Operator

John Chandley, LECG

Richard Way, TransAlta Energy

11:15 am         Evaluating the effectiveness of Stakeholder participation in the IMO

Has the IMO’s stakeholdering been successful in comparison to the stakeholdering in other jurisdictions? What are the measures of effective stakeholdering in the context of Ontario’s IMO? What is the best way to connect stakeholdering and decision-making? Other than the stakeholder Board, are the ties between stakeholders and the IMO structure adequate for responsive and efficient governance? Is the IMO stakeholdering model in need of review? How can participation be made more effective and decision-making more responsive? What could be improved, and is continuous improvement feasible?

Moderator: David Brown, Stikeman Elliott LLP

Derek Cowbourne, Vice President of Market Services, IMO

David Goldsmith, Vice Chair, IMO Market Advisory Council

David Applebaum, Sithe Energies

Questions and discussion

Stream Two: Transmission

Location: Room 802B

10:30 am         Transmission System Development - How is it working now?

These two panels are intended to uncover what a variety of independent analysts believe will be necessary to attract investment in transmission. The first panel will explore the present circumstances, their strengths and deficiencies, including:

- Who is responsible for what?

- Is the present structure of Hydro One appropriate for attracting new investment in Ontario?

- Who is willing to pay for new transmission under current conditions?

- What are the incentives to make investment and will it take place?

- What are the criteria for investment and what happens with a frozen tariff?

- The OEB’s view of the Transmission System Code

Moderator: Nazli Zeynep Uludere, London Economics

Gordon Ryckman, Ontario Energy Board

Carmine Marcello, Hydro One Networks

11:00 am         Transmission System Development - How should it work in the future?

With the nature of the need established, the discussion will move on to identifying the preferred process for investment and what the resulting structure should be. Speakers will examine:

- What are the structural options for encouraging the building of new transmission?

- What’s it going to take to get investment in cross border transmission and how that would impact the internal Ontario system

- Who should be responsible for what?

Moderator: Nazli Zeynep Uludere, London Economics

Mark Graham, Director, Transmission Business Development, Hydro One Networks

Andrew Barrett, Vice President, Regulatory Affairs, OPG

12 noon           Lunch in the Trade Show

Hosted by OPG - Ontario Power Generation Inc.

Market Development

1:15 pm          Enhancing market liquidity - What can the LDCs do?

Can these market enhancements be successful unless the LDCs are engaged in the implementation? Many proposals are afoot to enlarge the functions of Ontario’s electricity distributors, from procurement under new models for default supply, to accommodating distributed generation, to delivering energy efficiency programs. Most of these reforms would involve rule changes, regulatory changes and re-establishing the credit positions of many LDCs. Which changes are most likely to occur, and which directions should the industry be pushing?

Don Lechnar, OPG

Bill Hawkins, EDA - the Electricity Distributors Association

Jan Carr, Barker, Dunn & Rossi
Ron Clark, Power Budd

2:30 pm          Coffee Break

Hosted by Vestas Canadian Windpower

Should Ontario forge ahead or change direction?

Introductory remarks: Dr. Allan Kupcis, Chair, Canadian Nuclear Association

3:00 pm          Keynote: Duncan Hawthorne, CEO, Bruce Power

3:15 pm          The Facts and the foreseeable surprises: Will we have enough properly-priced supply in Ontario?

Can the present market system be trusted to bring more supply to consumers efficiently and effectively? Are we on track to meet the key objectives of restructuring in terms of supply and price? Disruptions and dislocations can’t be predicted precisely, but they can be provided for. More difficult is providing for the possibility for regulatory change or political intervention. Each of these factors has its impact on planning and in order to facilitate investment, must be worked into planning projections. As participants compare views on where the greatest sensitivities lie, they will also be shedding light on the over-riding question for governments concerned with restructuring of the energy sector - Should we forge ahead or change direction?

Panelists are invited to speak to the following sets of concerns:

- The facts about Ontario supply in the coming years - will we have enough supply?

- What’s most likely to upset the forecast?

- What does it look like in the context of the risk of political intervention?

- How to ensure that accurate prices are combined with consumer protection

- How can the electricity sector be effectively de-politicized over time?

- How to achieve a reduced frequency of intervention

- Alternative ways of achieving regulatory independence

- Selling any new deal to the public

Moderator: Safouh Soufi, SMS Energy-Engineering

Nazli Zeynep Uludere, London Economics International

Marie Rounding, Elenchus Research Associates, former chair of the OEB

(Other speakers to be announced.)

4:00 pm                      Conclusion

With special thanks to our major sponsors:

Banquet:         Borden Ladner Gervais LLP

Gold:              London Economics International

                        and Enbridge Gas Distribution

Silver:             Gowlings

Bronze:           Macleod Dixon LLP

Reception:      Torys LLP

Associate:       McCarthy Tetrault LLP

                        Environment Canada

Lunch 1:         Stikeman Elliott LLP

Lunch 2:         Ontario Power Generation

Program details subject to change without notice.

For the latest information, contact IPPSO at 416-322-6549 fax 416-481-5785

sorayar@ippso.org www.newenergy.org/conf.html

Today’s business opportunities in Green Power

November 25 & 26, 2003

In association with IPPSO’s Canadian Power Conference, Metro Toronto Convention Centre, South Building, Toronto, Ontario - Room 803A

This event will provide the latest information for entrepreneurs interested in pursuing business opportunities in the market for green power, including municipalities and the various strategic partners. It will focus on how to make use of the many newly-developed incentives, overcome the barriers, and learn from the experience of those who have built successful green power companies. Featuring the top authorities in the field, this event will prepare delegates for the challenges of making the energy sector a cleaner and better understood part of the economy.

Day 1 - Tuesday, November 25, 2003

1:30 pm          Opening Remarks- the context for green power development in Canada

Moderator: Mitch Rothman, Navigant Consulting Inc.

Matthew Bramley, The Pembina Institute, Update on the effectiveness of green power programs across Canada.

Julia Ciccaglione, Pristine Power: The prospects for improved policies and programs at the national level and the need for inter-group advocacy collaboration.

Deb Doncaster, OSEA - Ontario Sustainable Energy Association

On the economic and environmental benefits of green power, particularly focussing on community power

Speakers will be asked to address what to expect in terms of growth in Ontario’s green power sector.

2:00 pm          Value-adding options for green power in Ontario

Moderator: Lisa DeMarco, MacLeod Dixon

Ontario’s Renewable Portfolio Standard: David Boileau, Renewable Energy Task Team

Emission Reduction Credits for NOx: Mike Butters, MBC Consulting

Kyoto targeted measures: Glen Estill

Attribute tracking in Ontario: Bunli Yang

3:00 pm                      Coffee Break

3:30 pm          Green Certification Issues

Moderator: Jill Pritchard Scott, Ontario Ministry of Energy

Les Welsh, Environment Canada: Update on the status of the Environment Canada Guideline on Renewable Low-Impact Electricity and NAAIB

John Polak, TerraChoice: How to present a seamless system to consumers when Ecologo, Green-E, attribute tracking and others are operating simultaneously

Joyce McLean, Toronto Hydro: What changes Toronto Hydro would like to see.

4:00 pm          Addressing the need for change in existing mechanisms

Mike Crawley, AIM PowerGen Corporation, moderator

Changes specific to wind power: Glen Estill, CanWEA

Changes specific to waterpower: Paul Norris, OWA

Changes specific to biomass: Eric Rosen, KMW Energy

Open, facilitated discussion on issues raised in the previous sessions.

Simultaneous, free-of-charge introductory public workshop alongside the Trade Show:

1:30 pm - 4:00 pm      "Cogeneration, CHP and District Energy in Canada"

Manfred Klein, Environment Canada

(Location: 803B)

- Review of the various types of CHP projects across Canada with a focus on Ontario

- Why is Combined Heat & Power important?

- How important is energy conservation, system efficiency?

- Is use of waste heat "green energy" ?

- What is Quality of Energy?

- What are the Benefits, and the Implementation Barriers?

- Review of installed infrastructure

- What is future potential?

- How can this be realized?

- Roles of Federal/provincial governments, industry associations

Day 2 - Wednesday, November 26, 2003

8:30 am           Opening Keynote: Jos Beurskens, Netherlands Energy Research Foundation ECN, Wind Energy Manager

Factors affecting the prospects for growth of wind power internationally and in Canada

9:00 am           Distributed Generation: Is a break-through imminent?

Moderator: Edith Chin, Enbridge Gas Distribution

Industry Task Force on Distributed Generation: George Vegh, Macleod Dixon

Electricity Distributors Association: Darius Vaicunias, COLLUS Power

Developers: Peter Ronson, Toromont Energy

Paul Liddy, Mariah Energy Corp.

Regulator: Kirsten Walli on the OEB connection directive

10:00 am         Coffee Break

10:30 am         How to build successful municipal partnerships

Moderator: Ken Ogilvie, Executive Director, Pollution Probe

- John Warren, Director of Environmental Services, City of Toronto, What Toronto is looking for in a public/private partnership

- Sam Sidawi, Director of Operational Support Services with the Region of Niagara, Niagara’s Green Power Initiatives

- René Venendaal, BTG Biomass Technology Group, Netherlands, What makes a successful partnership

- Alex Bystrin, President of Oakville Hydro, Utility experience with landfill gas project development

- Douglas Salloum, Federation of Canadian Municipalities

12 noon           Lunch break in the Trade Show

1:30 pm          How to succeed with green power in Canada

Moderator: Richard Legault, Helimax Energy

Keynote: Jason Edworthy, Vision Quest Windelectric, Canadian wind energy developer

Keynote: John Sawler, Manager of Green Power Marketing, OPG, Marketing advice for green power entrepreneurs

Keynote: Stephen Probyn, Probyn and Company, Financing advice for green power entrepreneurs

Open discussion with facilitator on how to overcome the barriers to entry in the electricity business.

2:30 pm          Conclusion

Program details subject to change without notice.

With special thanks to our Green Power Conference Sponsor: Environment Canada

For the latest information, contact IPPSO at 416-322-6549 fax 416-481-5785

sorayar@ippso.org www.newenergy.org/conf.html