The Consumers' Waterheater Income Fund
TSX : CWI.UN

The Consumers' Waterheater Income Fund

May 06, 2009 07:00 ET

The Consumers' Waterheater Income Fund Provides a Progress Update on Its Sub-Metering Business

TORONTO, ONTARIO--(Marketwire - May 6, 2009) - The Consumers' Waterheater Income Fund (the "Fund") (TSX:CWI.UN) today announced that the Ontario Energy Board (the "OEB") has provided notice (the "Notice") to commence a written proceeding to determine whether, and if so, under what conditions, certain entities, including the Fund's subsidiary Stratacon Inc., should be authorized to conduct discretionary metering activities under the Electricity Act (Ontario) in respect of certain residential complexes and industrial, commercial and office buildings. According to the OEB, discretionary metering activities include Stratacon's sub-metering activities. The deadline for providing submissions to the OEB in this proceeding is May 26, 2009. The proceeding does not apply to any sub-metering activities in condominium complexes or to Stratacon's activities outside of Ontario.

This Notice is further to the OEB bulletin issued March 24, 2009 regarding the installation of smart sub-metering systems in certain residential complexes.

The Fund is in the process of considering the implications of the Notice and will participate in these proceedings as it believes that sub-metering is an important facet of the Ontario government's electricity conservation initiatives. The Fund looks forward to clarifying the regulatory regime relating to residential complexes and commercial buildings so that consumers together with the Fund can contribute to fostering a culture of conservation in Ontario.

About The Consumers' Waterheater Income Fund

The Fund owns a portfolio of approximately 1.4 million installed water heaters and other assets, rented primarily to residential customers in Ontario. The Fund also owns Stratacon Inc., a leading "smart" sub-metering company, with metering contracts for condominium and apartment suites in Alberta, Ontario and elsewhere in Canada.

Additional information regarding the Fund, including its current Annual Information Form is available on SEDAR at www.sedar.com. Additional information on the sub-metering business is available at www.stratacon.ca.

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