Enersource, Horizon Utilities, PowerStream merge into Alectra Inc.

Dailycommercialnews.com
Feb. 13, 2017

Three leading Ontario electrical utilities have merged to become Alectra Inc.

The merger was achieved and announced Jan. 31, almost two years after Enersource, Horizon Utilities and PowerStream announced their intention to merge and acquire Hydro One Brampton. Alectra Inc. will complete the acquisition of Hydro One Brampton on Feb. 28.

The merger creates one of the largest municipally-owned electricity utilities in Canada, notes an Alectra media statement, with the new firm serving approximately one-million homes and businesses in the Greater Golden Horseshoe Area. Alectra says efficiencies achieved over time will result in lower costs to customers, improved customer service, better system reliability and improved emergency response capabilities in storms and inclement weather.

Alectra says it will also increase investments in innovation and technologies.

"We are pleased to move forward as Alectra Inc. to provide customer service that is second to none, and optimal returns for our shareholders," said Alectra president and CEO Brian Bentz in a statement. "We have a strong vision for innovation in technology. After two years of planning, our journey to become a model of excellence in consolidation in Ontario and beyond, begins today."