PowerStream Inc.

PowerStream Inc.

August 22, 2006 08:34 ET

PowerStream Continues to Experience Tremendous Growth

Company hits 225,000 customer milestone

YORK REGION, ONTARIO--(CCNMatthews - Aug. 22, 2006) - PowerStream Inc., the utility which delivers electrical power to residences and businesses in Aurora, Markham, Richmond Hill and Vaughan, continues to experience tremendous customer growth as the company recently surpassed the 225,000 milestone for the total number of customers served.

This new benchmark was reached by PowerStream just over a year after the company connected its 200,000 customer in July 2005. The majority (16,000) of the customers added to PowerStream's distribution network in the past year were acquired through the company's November 2005 purchase of Aurora Hydro Connections Limited from the Town of Aurora.

"Through both asset acquisition and organic growth, we continue to be one of the fastest growing local electricity distribution utilities in Ontario," Brian Bentz, PowerStream President and CEO, said making reference to a customer annual growth rate of nearly four percent or approximately 8,000 customers per year. "Expanding our customer base is consistent with our corporate vision of being a leader in power distribution and related services in Ontario."

Bentz added that although PowerStream is pleased with its rate of growth in terms of customer numbers, the company also accepts its responsibility to manage the expected load growth through Conservation and Demand Management (CDM) initiatives.

"We remain committed to helping the Ontario government build a culture of conservation in the province and will continue to work with our customers to reduce overall electricity consumption in our service territory."

Based on customer count, PowerStream is now the fourth largest local distribution company (LDC) in Ontario, closely following Horizon Utilities (Hamilton, St.Catharines) which currently has just over 230,000 customers. The two largest LDCs in the province are Toronto Hydro (676,000) and Hydro Ottawa (278,000).

PowerStream Inc. is an incorporated entity, jointly owned by the City of Vaughan and the Town of Markham.

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