Gaz Métro pleased with Québec’s Energy Strategy

May 4, 2006 - Press releases

Montréal, May 4, 2006 – “Gaz Métro is pleased with the energy strategy presented today by the Québec government. In an environment where energy is becoming scarcer and its cost increasing, the strategy proposes solutions for positioning Québec as a leader in energy.

“Gaz Métro intends to contribute to this challenge by working to diversify its sources of supply, by encouraging the use of the right energy in the right place – in particular, natural gas for heating – and by continuing its efforts in energy efficiency.” Those are the words used by Robert Tessier, Gaz Métro’s President and Chief Executive Officer, in reacting to the Québec government’s tabling of its Energy Strategy.

Québec’s energy security and economic competitiveness depend on a diversified supply of its sources of energy. Gaz Métro is pleased to note that the government recognizes how important it is to develop new energy infrastructures such as hydroelectric dams, wind farms and liquefied natural gas (LNG) terminals.

As well, making wise energy choices as a society and as consumers is essential. Using the right energy in the right place is also key. By choosing natural gas for space and water heating, high-value renewable energies like hydroelectricity and wind power can be reserved for needs only they can meet, such as lighting, motive power, or powering IT systems. In addition, the surpluses generated could be used to stimulate industrial development or exported. Such a policy would enable Québec to gain the maximum benefits for all its citizens.

Gaz Métro supports the government in its desire to promote energy efficiency and savings among Québec consumers. The first Québec distributor to introduce an Energy Efficiency Plan, Gaz Métro is already very active in this area and will continue to work with its customers.

“The best way to support the success of this energy strategy will be to ensure that the price signal reflects the real value and scarcity of the various sources of energy,” added Tessier, who also sees that as a way of encouraging consumers to make informed choices which will foster Québec’s leadership in energy.

Gaz Métro Overview

With more than $2.5 billion of assets and more than 1,500 employees in Québec, Gaz Métro is a leading Québec energy company and one of the largest natural gas distributors in Canada. Gaz Métro serves about 164,000 customers in Québec through an underground pipeline network of almost 10,000 km. A subsidiary, Vermont Gas Systems, serves about 37,000 customers.

Gaz Métro also holds significant investment interests in natural gas transportation and storage facilities. A subsidiary, Gaz Métro Plus Group, offers maintenance and repair services for natural gas equipment, urban cooling and heating systems and leased water heaters, including electric water heaters. Through its various subsidiaries and affiliates, Gaz Métro is also active in the diagnosis and rehabilitation of water and waste water systems and in fibre optics.

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