VAUGHAN, ONTARIO — (Marketwire) — 12/13/12 — PowerStream, an electricity distribution company which has successfully demonstrated how bringing utilities together through consolidation can benefit customers, shareholders and other stakeholders, welcomed the recommendations put forward in a released today by the Ontario government–s on the future of the province–s electricity distribution sector.
The report contained several recommendations referenced by PowerStream in its own submission to the Panel in June 2012 including the consolidation of local distribution companies within a region to gain efficiencies to benefit customers.
The Panel, whose membership consisted of representation from all three major Ontario political parties, was tasked earlier this year by the provincial government to provide advice and make recommendations to the regarding issues related to Ontario–s electricity distribution sector and distribution models, including opportunities for consolidating distributors. As part of its consultation, the Panel examined potential long and short-term financial savings associated with consolidation, benefits for ratepayers, long and short-term operational efficiencies and potential risks.
Citing specific areas of the report for being both “insightful” and “forward-thinking”, PowerStream officials applauded Panel members David McFadden, Floyd Laughren and Murray Elston for being thorough in their review and delivering recommendations that would assist Ontario–s electricity distribution sector in meeting the province–s future energy needs.
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is the second largest municipally-owned electricity distribution company in Ontario, providing service to more than 355,000 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 and .
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