The launch of Tahoe Canada’s Energy Incentive Program comes as Earth Day celebrations are held world-wide to recognize environmental conservation efforts. Tahoe’s pursuit of reduced energy consumption also comes with the added benefit of mitigating the rising cost of energy for the Timmins Operations. Led by Tahoe’s Energy Manager, this initiative is designed to promote employee awareness and engagement by rewarding ideas that reduce energy consumption and improve process energy efficiencies that help the Company meet energy conservation targets. The program has already seen great success, with one employee’s idea projected to save the Company almost $1.5M.
Ontario has some of the highest energy costs in all of North America, with provincial electricity prices rising by more than 70% over the past decade. For Tahoe’s Timmins Operations, energy sources account for approximately 10% of total annual costs. In response to rising energy costs, the Ontario Government created energy incentive programs aimed at keeping the industrial sector competitive, which Tahoe Canada has capitalized on as part of its own energy initiatives. Since Tahoe Canada’s acceptance into the Northern Industrial Electricity Rate (NIER) rebate program, the Timmins Operations have saved approximately $5M in energy costs and anticipates an additional $15M in savings over the next five years.
Tahoe Canada is also participating in the Independent Electricity System Operator’s (IESO) Industrial Accelerator Program (IAP), which provides funding for energy studies, capital projects and a full-time energy manager position to monitor the Company’s energy programs and initiatives. As part of the program, three fully funded studies were conducted at the Bell Creek Mine in 2017, leading to a capital project incentive for three new compressors as part of the Bell Creek Shaft expansion. Timmins West has two similar studies scheduled for Q1 2018.
Tahoe’s Timmins Operations were recently recognized by IESO for energy conservation efforts with a nomination for the Canadian Industry Partnership for Energy Conservation (CIPEC) Leadership Awards: Energy Sources, Processes and Technologies; Energy Awareness and Training. The awards ceremony is scheduled to take place during the 2018 Energy Summit in Toronto.