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Plutonic Power submits projects in BC Hydro 2006 Call for Tender


Plutonic Power Corporation (PCC:TSXV) is pleased to announce that it has submitted three projects into BC Hydro's F2006 Call for Tender. These three projects are the East Toba River and Montrose Creek Project, the Rainy River Project and the Emory Creek Project. The total capacity of these projects is 217.5 MW, which will generate enough electricity for approximately 80,000 homes. BC Hydro anticipates awarding Energy Purchase Agreements (EPA's) in early August 2006.

Industry Update

The electricity industry and business environment in BC remains very positive for Plutonic Power Corporation. Last month, BC Hydro announced their 2006 Integrated Electricity Plan (IEP) for the province. The plan notes that in each of the last five years, British Columbia has been a net importer of electricity. Based on current demand forecasts, the B.C. could be importing as much as 45 per cent of its electricity from spot-trading markets in Alberta and the Pacific Northwest within 20 years, according to BC Hydro president Bob Elton.

British Columbia's electricity short fall, coupled with lofty electricity prices in the Pacific Northwest over the past year, increase the value of Plutonic's green energy projects.

High import prices combined with a supply shortfall has persuaded BC Hydro to increase the size of their 2006 Call for Power from 1800 GW.h to 2500 GW.h; the largest request for electricity procurement to date. BC Hydro also recently stated that it will continue to issue Calls for Power over the next two years to meet growing demand. Domestic independent power producers such as Plutonic Power will play a large role in filling the gap between supply and demand for years to come.

"All signals show that Plutonic Power is very well positioned to take advantage of the tightening electricity market in the Pacific Northwest as well as society's demand for cleaner energy alternatives." said Donald McInnes, president of Plutonic Power. "Plutonic has 19 development projects with over 870 MW in total capacity, one of the largest private electricity development portfolios in the province. As electricity demand continues to grow, our business plan calls for the development of green energy projects in a stepped approach over the next several years."

Plutonic Power is an emerging energy producer in British Columbia. Its proposed 19 projects have a design capacity of over 870 MW and the potential to generate approximately 2900 GWh per annum of green energy, enough energy to meet the annual energy needs of approximately 300,000 homes. Included in the 19 projects is the creation of the Green Power Corridor, a series of non-storage hydroelectric projects in southwestern BC, which hold the potential to catapult British Columbia to the forefront of green energy generation in North America. The completion of the Green Power Corridor would be through one of the largest single private sector green energy investments ever made in British Columbia and would create over 2,400 person-years of employment.

Plutonic is committed to continuously work with First Nations, stakeholder groups and local communities in the development of its run of river projects.

On behalf of the Board of Directors
Donald McInnes, President

For additional information please contact:

Lisa May
Investor Relations
Office: 604-669-4999 ext 1034
Cell: 604-314-3362

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release

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