Direct Energy’s fixed price contracts aid the city in managing the risk associated with electricity price volatility, allowing the city to gain greater control over power costs.

This contract is expected to allow Toronto to help alleviate the budget certainty challenges that affect cities, municipalities and communities throughout Canada.

The power contract was awarded following a competitive bidding process involving several companies. Direct Energy entered into an agreement to provide Toronto with a portion of the city’s power requirements through a contracted baseload of 20MW of power.

Gary O’Neill, director of energy solutions at Direct Energy Business, said: Following recent contract wins with the region of Peel and the city of Vancouver, we have found that municipal leaders are turning to Direct Energy because of our high-quality service to have protection from price volatility, and range of strategies and products which are uniquely tailored to their communities.