MISSISSAUGA, ON--(Marketwired - January 31, 2017) - Three leading Ontario electrical utilities have merged to become Alectra Inc.
This milestone was reached today 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 February 28, 2017.
The merger creates one of the largest municipally-owned electricity utilities in Canada, serving approximately one million homes and businesses in the growing Greater Golden Horseshoe Area. Merger efficiencies achieved over time will result in lower costs to customers, improved customer service, better system reliability and more robust emergency response capabilities in storms and inclement weather.
Alectra will also increase investments in innovation and technologies, providing better choices for customers.
"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 Inc. President and CEO, Brian Bentz. "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."
About Alectra Inc.
Alectra Inc. will serve approximately one million customers across a 1,800 sq. km service territory and 15 communities including Alliston, Aurora, Barrie, Beeton, Brampton, Bradford, Hamilton, Markham, Mississauga, Penetanguishene, Richmond Hill, St. Catharines, Thornton, Tottenham and Vaughan. The Alectra family of companies includes Alectra Inc. (Mississauga), Alectra Utilities Corporation (Hamilton) and Alectra Energy Solutions Inc. (Vaughan).