SASKPOWER TO IMPROVE ENERGY EFFICIENCY AT REGINA FACILITIES

SaskPower will invest up to $2.4 million to undertake energy retrofits at seven of its facilities in Regina. The work will be completed in partnership with Honeywell Ltd., who has been SaskPower's partner in its Energy Performance Contracting service since 1999.

"The Energy Performance Contracting service is an important part of SaskPower's efforts to tackle the issue of climate change, by reducing electrical and natural gas consumption in its own operations," Crown Investments Corporation Minister Maynard Sonntag said. "Improving the energy efficiency of SaskPower facilities through these retrofits will highlight the financial and environmental benefits that Energy Performance Contracting can offer to SaskPower's large customers."

Heating, cooling, lighting, ventilation, and building automation systems at SaskPower facilities in Regina will be retrofitted under the agreement. The contract will generate approximately $268,000 in annual energy savings; meaning all the capital expenses will be paid back over 8.6 years. The project will also result in over $1.5 million in work for local contractors. Work will begin immediately, and should be done in 2004.

"An important part of the project will see SaskPower's Technical Services and Research facilities, located at the Saskatchewan Science Centre, become a showcase for energy efficiency technologies and ideas," SaskPower Vice President of Customer Services Pat Youzwa said. "This showcase will give potential Energy Performance Contracting service customers in the education, healthcare, property management and industrial sectors a chance to see energy efficiency technology at work."

"The Honeywell/SaskPower alliance has already generated $21 million in construction activity over the past three years in Saskatchewan – and this new project for SaskPower facilities builds on our previous success," Honeywell Vice President of Global Sales Kevin Madden said. "Since announcing its partnership with SaskPower in 1999 to deliver energy efficiency retrofits, Honeywell has dedicated nine permanent full time positions to this initiative, for a total of 33 employees in Saskatchewan."

SaskPower and Honeywell have already provided Energy Performance Contracting services to the Saskatchewan Property Management Corporation, Saskatchewan Valley School Division No. 49, the NorthWest Catholic School Division, and the City of Regina.

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For More Information, Contact:

Larry Christie SaskPower Regina Phone: (306)566-3167

Blair Adams, Alliance Business Manager Honeywell Ltd Regina Phone: (306)791-8117