The Lake Erie Connector will be a 117 KM, bi-directional, high-voltage direct current (HVDC), underwater electricity transmission line. The LEC would deliver 1,000 MW of power directly between Ontario and the largest electrical market in the world – 13 U.S. Midwestern and Mid-Atlantic states. One converter station will be located at either end of the cable, in both Haldimand County, Ontario and Erie, Pennsylvania.
- Mar 1, 2022 – Initial Release of Information via www.snfuture.ca
- Mar 1 – Apr 30, 2022 – Two-way Community Commentary Period (via zoom)
- Early May, 2022 – Final report posted via www.snfuture.ca and submitted to SNGRDC & SNGREC for review
- Mid-May, 2022 – Final review and adjustments made by SNGRDC Board on pursuit of potential investment
- Late-May, 2022 – SNGRDC Group to provide consent to proceed with the project, pending adjustments
- Fall, 2022-Spring 2023 – Anticipated start of construction – pending required approvals
Community members are invited to submit their online comments via the SN Future Platform, via email at [email protected] or during one of the live webinar information sessions. Due to Covid-19 Pandemic in person sessions will not be hosted, and online comments are preferred.
- Tues. March 8 | 2:00 PM
- Fri. March 11 | 10:00 AM
- Mon. March 21 | 7:00 PM
- Wed. March 23 | 6:00 PM
- Wed. March 30 | 2:00 PM
- Tues. April 5 | 10:00 AM
- Mon. April 11 | 6:00 PM
2498 Chiefswood Rd.
Thur. April 14 | 6:00 PM
- Tues. April 19 | 10:00 AM
- Wed. April 20 | 6:00 PM
Registration will open March 1, 2022.
- Ontario is expected to see $3 billion in savings over 30+ years of the project*
- This project is being developed by ITC Investment Holdings Inc.
- First direct electricity trading path between Ontario and a large, multi-state regional transmission market in the U.S.
- The LEC is fully permitted in Canada and the U.S.
- Early site work is anticipated to begin in 2023
- Greater market access, and the ability to manage energy needs and respond to shifting supply & demand, outages, and system planning requirements
- Improve the reliability and security of the respective energy grids through maximized use of existing assets – without taxpayer subsidies.
- Clean energy access with potential to reduce emissions profiles in both regions.
*over the 30-year life of the asset
Options under consideration are as follows:
- Equity Ownership
- Six Nations will hold 7.5% ownership in the LEC project for the entire life of the asset which is expected to surpass 30 years. This option has the potential of generating ~$44M over the next 40 years with the possibility of generating up to ~$90M if the IESO contract is extended to 55 years.
- Participation Payments
- Six Nations will hold no ownership the LEC project, now or in the future.
- Participation payments are significantly less than the equity option as this option does not provide any ownership interest in the asset now or in the future. This option will yield between ~$30-40M over 40 years and up to ~58M over 55 years. This is $31M less than the equity option.
- No Participation
- Six Nations has the option not to participate. In this case there will not be payments of any kind.
- *Note: As the LEC project is fully permitted, the project will be constructed with or without Six Nations economic participation.
Community Benefit Payments
Whether option 1 or option 2 is chosen*, ITC is prepared to enter into a Community Benefit Agreement directly with SNGR. Which in exchange for securing project support, will provide the following financial benefits paid directly to SNGR:
- Initial Payment: An initial payment of $100,000 CAD to be paid within 10 business days of signing of the Community Benefit Agreement;
- Annual Payment prior to COD: A payment of $225,000 CAD to be paid on the Financial Close Date of the Project and annually for three subsequent years (totaling $900,000 CAD); and
- Annual Payment commencing at COD: A payment of approximately $118,000 CAD per year. This payment is an annual Project cost which would continue until the Project is abandoned or decommissioned.
*If SNGR chooses not to participate, there will be no Community Benefit Payments.
Please Note: Preparations are still being made and new content will be added as it becomes available. This section includes the most recent/updated information regarding the project.
February 8, 2022
Six Nations Elected Council approved the review to proceed.
Further details can be found below under Reports & Resolutions.