Tribute Resources Inc. announced that it has received favorable decisions on all its Phase 2 Huron gas storage and related facilities and pipeline applications to the Ontario Energy Board for the Bayfield and Stanley Pools. In its Decisions with Reasons, the Board recognized the reality, complexity and extended timeframe necessary to complete these projects, taking into account market conditions. This decision appears to represent a positive step forward for project developers in Ontario, requiring OEB leave to construct approvals, where developers, not ratepayers, are accepting the risk of developing energy projects.

The OEB decision also appears to open the door to the possibility of developers requesting extensions to project timelines if sufficient reasons justify amendments to project schedules.