SOURCE: PowerStream Inc.

PowerStream

March 30, 2015 15:29 ET

PowerStream Showcases Ontario's New 'Conservation First' Framework

Energy Minister Chiarelli Commends Participating Ontario LDCs at Event Held in Vaughan

VAUGHAN, ON--(Marketwired - March 30, 2015) - Electricity customers served by Ontario local distribution companies (LDCs) will be seeing new, innovative and cost-effective conservation programs in the not too distant future. This is a result of Ontario LDCs' submitting Conservation and Demand Management (CDM) Plans to the Independent Electricity System Operator (IESO) as part of the provincial government's new 'Conservation First' framework.

In an event held Monday at Vaughan manufacturer and PowerStream customer, Vision Extrusions, Energy Minister Bob Chiarelli commended PowerStream and Collus PowerStream for being the first LDCs to have a CDM Plan approved by the IESO, as well as all Ontario LDCs for their efforts in helping to build the new six-year framework and expediting the signing of Energy Conservation Agreements.

Vision Extrusions, working with PowerStream's CDM department, recently completed an energy-efficient expansion of its facility. The company's successful integration of energy-efficient programs and technologies in its operations, serves as an example of how firms can take advantage of conservation programs offered by their respective LDC under the new framework to help reduce their electricity bills.

The Conservation First Framework overseen by the IESO provides LDCs with long-term, stable funding for conservation programs that will reduce electricity consumption by seven terawatt-hours or seven billion kilowatt-hours by December 31, 2020. This is enough to power 700,000 Ontario homes for a year. The new framework gives distributors greater flexibility in the design and delivery of conservation programs that meet local needs, strengthen regional collaboration and benefit both customers and the provincial grid. All LDCs in Ontario must submit a CDM Plan to the IESO no later than May 1, 2015.

QUOTES

  • "The Conservation First framework builds on the tremendous work that was done in previous years to foster a culture of conservation in this province and transform Ontario into an energy-efficiency leader," stated Bob Chiarelli, Minister of Energy. "Our achievements in conservation are the result of the outstanding collaborative efforts demonstrated by LDCs and companies across Ontario similar to what we have seen here today."
  • "PowerStream has always been committed to offering CDM programs that make a significant difference to the customers in the communities we serve," explained Maurizio Bevilacqua, PowerStream Board Chair and Mayor of the City of Vaughan. "We were proud to be the first Ontario LDC, along with Collus PowerStream, to submit our plan under the Conservation First framework, which we firmly believe will help our customers better manage their electricity costs."
  • We have worked closely with PowerStream on numerous CDM initiatives over the last few years," added James Di Giorgio, Vision Extrusions President. "The savings and incentives earned from these initiatives have enabled us to expand our business and improve our bottom line."

BACKGROUND

  • In a preliminary report recently released by the IESO on the 2011-2014 CDM framework, LDCs across Ontario achieved 98 per cent (5,882 GWh) of cumulative energy savings, against their OEB-set energy-savings target of 6,000 GWh. Once these results are verified and the final results are delivered, it is anticipated that LDC conservation programs will have delivered savings that slightly surpass this target.
  • Vision Extrusions has taken advantage of retrofit initiatives and other conservation offerings provided through PowerStream. They have an embedded Energy Manager and participate in the IESO's DR 3 Program.

ABOUT POWERSTREAM

PowerStream is a community-owned energy company providing power and related services to more than 375,000 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.

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