Their long-term agreement with Trans Canada Energy ensures customers in the northeast will have another reliable source of energy at the lowest possible price. They've also been using existing assets in new ways. For instance, they've installed a new telecommunications network that includes 50 kilometres of fibre optic cable to provide high-speed data transmission. Before I conclude, I'd just like to bring you up to date on what's happened recently as we move toward a competitive market. With the birth of Ontario Hydro's successor companies on April 1, we're well on our way to a new era of energy competition in this province.
Work is well underway to prepare the wholesale and retail markets.
At the retail level, the Ontario Energy Board has been busy preparing licences and rate orders. This will move the province toward a new system of regulating electricity on equal and transparent terms. Looking to the wholesale market, the Independent Electricity Market Operator is now up and running. Its new board has been meeting to tackle an impressive array of issues. The rules reflect a tremendous amount of expertise from electricity stakeholders and Market Design Committee members, including Peter Budd, the chair of this conference.