Enersource, Horizon Utilities, Hydro One Brampton and PowerStream to Become Alectra
January 16, 2017
A new utility resulting from the merger of four Ontario utilities, serving one million customers in the Greater Toronto and Hamilton Area, will be known as Alectra.
The new company name and logo was unveiled by Enersource, Horizon Utilities and PowerStream officials, who will merge their respective utilities as of February 1 and purchase Hydro One Brampton effective February 28.
This consolidation will create the second largest municipally-owned electric utility by customer base in North America. Only the Los Angeles Department of Water and Power is larger.
Alectra will operate within a 1,800 square kilometre service territory comprising 15 communities, including Alliston, Aurora, Barrie, Beeton, Brampton, Bradford, Hamilton, Markham, Mississauga, Penetanguishene, Richmond Hill, St. Catharines, Thornton, Tottenham and Vaughan.
The creation of Alectra will result in
- residential customers saving an average of $40 per year on bills as merger efficiencies are achieved over the next 10 years
- an expanded ability to monitor, report on and improve reliability and power quality, resulting from greater resources
- greater investment in innovation and technologies, resulting in better choices for customers
The Ontario Energy Board approved the plan to create the new company last December.
“The launch of Alectra is a win-win for both electricity ratepayers and for municipalities in communities across the region,” says Glenn Thibeault, Ontario Minister of Energy. “It will result in an improved company that is better positioned to serve customers who will also benefit from savings on electricity rates. I am pleased that each of the municipalities involved recognized these benefits, and I hope more municipal leaders across Ontario will follow their lead.”
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