TSX-V TRADING SYMBOL: CEC
VANCOUVER, March 14 /CNW/ - Compliance Energy Corporation (the "Company")
announces that it is continuing discussions with BC Hydro ("Hydro") regarding
the Company's Electricity Purchase Agreement with Hydro and the Princeton
Power Project will remain on hold until after the results of Hydro's phase one
bioenergy power call are publically available. It is anticipated that the
results of the phase one power call will be available by the fall of 2008 at
which time a phase two bioenergy call will be launched following the
completion of the Ministry of Forests and Range's biomass inventory and forest
tenure analysis.
A study completed on behalf of the Company by the Timberline Natural
Resource Group forecasts that there will be ample fuel in the form of roadside
residuals from existing logging operations and passed over beetle killed pine
in the Princeton region to fuel the plant for over 25 years. Salvaging the
standing dead pine for fuel would allow reforestation to be accelerated, would
help mitigate the risk of wildfires, benefit the forest industry in the
recovery of saw logs from infested areas and enhance economic activities in
the woods industry for local communities.
Electricity from a biomass fuelled power plant is available continuously
24 hours per day unlike other forms of renewable electricity which might not
be available when the electricity is required. The Princeton Power Project
would contribute to the Provincial goal of becoming electricity self
sufficient by 2016.
Compliance Energy Corporation's shares trade on the TSX Venture Exchange
under the symbol CEC and investor information is available on the Company's
web page at www.complianceenergy.com.
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