PowerStream Receives EDA’s Innovation Excellence Award
March 10 2016
PowerStream was acknowledged for innovative achievement at the Electricity Distributors Association’s (EDA) recent annual Awards Gala in Toronto, ON, receiving the EDA Innovation Excellence Award in recognition of the company’s successful “Advantage Power Pricing (APP)” pilot program.
In partnership with Energate Inc. and funding from the Ministry of Energy, PowerStream’s Advantage Power Pricing (APP) pilot was launched in May 2015 as a six-month, risk-free, technology-enabled dynamic pricing program that provides residential customers with significant savings. APP offers customers an ultimate low price of 4.9¢/kWh of electricity for off-peak periods and a variable price during the on-peak period (weekdays, 3:00 pm – 9:00 pm), while equipping them with the tools required to better manage their energy use. The program gave participants the opportunity to save up to $300 a year by paying a very low price for electricity during 82% of the week.
PowerStream introduced a second phase of the pilot on November 1, 2015, and will launch a third phase on May 1, 2016 with the hope of eventually offering the pricing plan to all of its customers. Each of these phases received funding from the Independent Electricity System Operator.
The EDA’s Innovation Excellence Award recognized PowerStream’s APP as a unique business model that empowers customers to better manage their utility bills and adds new value to multiple areas of the industry, including customer satisfaction and engagement, conservation and demand management, energy storage, and energy grid efficiency.
PowerStream is a community-owned energy company that provides power and related services to more than 375,000 customers residing or owning a business in communities located immediately north of Toronto and in Central Ontario. It is jointly owned by the Cities of Barrie, Markham and Vaughan.
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