SOURCE: PowerStream Inc.

PowerStream

December 23, 2014 13:17 ET

PowerStream Out in Front With Conservation Planning

Collaborates With Collus PowerStream in Becoming First Utilities to Submit Plan to OPA

VAUGHAN, ON--(Marketwired - December 23, 2014) - PowerStream and Collus PowerStream recently became the first electricity distribution companies in Ontario to submit a plan to the Ontario Power Authority (OPA) for achieving their conservation targets under the government's new 2015-2020 "Conservation First" framework.

The plan, which outlines how the two companies will achieve their assigned conservation targets, was submitted on Thursday, well in advance of the May 1, 2015 deadline that all distribution companies in Ontario must adhere to for submitting their plans to the OPA.

PowerStream and Collus PowerStream's combined target is to achieve 552 gigawatt-hours (GWh) of energy savings across their two service territories by 2020 -- equivalent to taking more than 63,000 homes off the grid for one year.

The two companies' plan for achieving targets will fully integrate the delivery of conservation services across their respective service territories in order to achieve cost efficiencies, improved program results and superior customer experience. It includes a comprehensive mix of conservation programs to be made available to all customer types (homes, businesses, industries etc.) The plan also calls for the introduction of new and innovative local programs to supplement the currently available provincial programs.

Under the plan, conservation program delivery is projected to be cost effective, with a forecasted net benefit of more than $300 million to the provincial electricity system. The estimated delivery cost for the energy savings is 2.5 cents per kilowatt-hour. 

QUOTE

  • "PowerStream has always been an industry leader in developing and delivering conservation and demand management programs to its customers," explained Brian Bentz, PowerStream's President and CEO as well as Board co-Chair of Collus PowerStream. "As such, we were successful in achieving our energy-savings target under the first framework and are confident that we will be able to do the same for both PowerStream and Collus PowerStream going forward."

BACKGROUND

  • Under the new six-year conservation framework, announced earlier in 2014 by Bob Chiarelli, Minister of Energy, Ontario's electricity distribution companies are responsible for achieving a total of 7,000 gigawatt-hours of energy savings by 2020, which represents approximately a five per cent reduction in provincial electricity consumption compared to current levels.
  • In addition to the collaboration between PowerStream and Collus PowerStream, the plan also calls for the two distribution companies to work together with natural gas utilities in the design and delivery of programs focused on both electricity and natural gas savings. 

ABOUT POWERSTREAM AND COLLUS POWERSTREAM

PowerStream is a community-owned energy company that provides power and related services to more than 370,000 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 Barrie, Markham and Vaughan. In 2012, PowerStream formed a strategic partnership with the Town of Collingwood in the joint ownership of Collus PowerStream, the utility which serves customers in Collingwood and three other communities.

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