Conifex Timber Inc. announced the British Columbia Utilities Commission (BCUC) has approved its Electricity Purchase Agreement (EPA) with BC Hydro as an energy supply contract. The Company completed its EPA and related Load Displacement Agreement (LDA) with BC Hydro in June 2011. Under the EPA, the Company will supply a minimum of approximately 200GWh of electrical energy annually to BC Hydro over a 20-year term from its bioenergy generation plant (the Bioenergy Facility) which is currently in development adjacent to one of its sawmill complexes in Mackenzie B.C. Delivery of electricity to the BC Hydro grid is expected to commence in the third quarter of 2013. Revenues from the project to Conifex Timber Inc.'s bioenergy segment are expected to exceed $20 million annually when the Bioenergy Facility is operating at design capacity. Under the LDA, the Company is required to deliver 30 GWh of electrical energy annually to provide for the energy requirements of Conifex's two Mackenzie sawmills over the term of the LDA. In exchange for the Company agreeing to make available such energy for its sawmills, BC Hydro will provide incentive funding to be utilized towards the completion of the Bioenergy Facility. The company also announced that Michael Costello has joined its board of directors. Mr. Costello has held a number of high profile executive and board positions during his distinguished career and currently serves as a director of the Ontario Power Authority. Mr. Costello previously served as Chair of the Canadian Electricity Association and Chair of the Energy Council of Canada.