COLUMN: Alectra - Vaughan’s new electric utility unveiled
Vaughan Citizen
Jan. 24, 2017
By Maurizio Bevilacqua
It’s official. I am pleased to introduce Alectra - Vaughan’s new electric utility that will serve one million customers in the Greater Toronto and Hamilton Area. The merger between PowerStream, Enersource Corporation and Horizon Utilities, and the purchase of Hydro One Brampton, will be complete in February, making Alectra the second largest municipally-owned electric utility by customer base in North America.
The energy sector is evolving at a rapid pace and the time was right for PowerStream to be part of the historic agreement to unite with others in Ontario. After months of hard work, dedication, public consultation and the signing of agreements by PowerStream’s shareholder municipalities - Vaughan, Markham and Barrie - the application to consolidate the four utilities was reviewed and approved by the Ontario Energy Board in 2016.
As chair of PowerStream, I have personally witnessed the results of thousands of hours of dedicated work and hundreds of effective meetings. By bringing together four leading provincial electricity distribution companies, we have created a larger and dynamic utility that can seize the opportunities for the future.
What is most important for me is the fact that this merger is people focused - at its core it is about increasing value for taxpayers and reducing costs for consumers.
What does this mean for you?
- Rates will be lower over the long term which will provide savings
- Joining resources will result in improved customer service
- More products will become available
This merger positions us as leaders in Ontario and at the forefront of providing enhanced services for residents. Most importantly, it will further advance our ability to deliver reliable power safely and efficiently as we invest in technology and drive innovation.
This has been an exciting time as we have come together with other cities to create a company that will generate benefits for you - the customer. It is important to me that we protect Vaughan’s interests and continue to respect your hard-earned dollars. We have seen an enormous transformation in our city in the past seven years - this is another big win as we take Vaughan to the next level.
