SOURCE: Enersource

Enersource

SOURCE: Horizon Utilities

Horizon Utilities

SOURCE: PowerStream

PowerStream

September 27, 2016 21:00 ET

Historic Merger Partnership Results in First Ever Joint OEA 'Leader of the Year' Win

TORONTO, ON--(Marketwired - September 27, 2016) - The Ontario Energy Association (OEA) has jointly recognized Brian Bentz, President and CEO of PowerStream, Max Cananzi, President and CEO of Horizon Utilities, and Peter Gregg, President and CEO of Enersource for the OEA 'Leader of the Year' Award.

This is the first time in OEA history that more than one recipient has been honoured in the same year.

The three executives were selected because of their efforts to merge their respective electricity utilities and jointly purchase the assets of Hydro One Brampton. Pending Ontario Energy Board (OEB) approval, the still to be named new company will become the second-largest municipally-owned utility in North America based on number of customers served.

Their accomplishments were achieved in tandem with each CEO ensuring their companies continued to maintain outstanding performance in managing day-to-day operations.

After the transaction closes, the new utility will deliver electricity and related services to nearly one million residential and commercial customers in the Greater Golden Horseshoe area. As a single larger entity, the new company is expected to drive cost savings and provide more services for the benefit of customers, communities and shareholders.

The 'Leader of the Year' award was presented at the OEA's Energy Awards Gala held Tuesday evening at the Sony Centre for the Performing Arts.

QUOTES

"I am honoured that the OEA has recognized the joint efforts of Max, Peter and I to help transform the electricity sector for the benefit of our stakeholders," said PowerStream President and CEO, Brian Bentz. "We will continue to work very hard to create a new company that will set a new standard for the industry through retaining and building on the business excellence that is currently evident in each of our respective organizations."

"We have all worked hard to ensure that our utilities are leaders in the sector. It is very fitting that this award is being presented to all of us collectively, because it is the work of everyone at Horizon Utilities, PowerStream and Enersource that has made, and will continue to make, our new company a success. I am honoured to accept this on behalf of all Horizon Utilities employees," said Max Cananzi, President and CEO, Horizon Utilities.

"Although Brian, Max and I are the recipients of this award, it is the collective efforts of the employees at our respective utilities that has brought us this far," said Enersource President and CEO, Peter Gregg. "I am honoured to be part of this innovative team, and I would like to thank the Ontario Energy Association for recognizing our efforts."

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