PowerStream Inc.

PowerStream Inc.

February 24, 2009 14:04 ET

PowerStream Welcomes Introduction of Green Energy Act

New legislation expected to benefit utility's customers in Simcoe County & York Region

VAUGHAN, ONTARIO--(Marketwire - Feb. 24, 2009) - PowerStream, the municipally-owned electricity distribution company which serves more than 315,000 residential and business customers in Simcoe County and York Region, welcomed the introduction of the Green Energy Act in the Ontario legislature Monday and commended the Ministry of Energy and Infrastructure (MEI) for furthering the development of conservation and sustainability initiatives in the province.

Introduced for its first reading, the new legislation has been brought forward by the MEI to achieve several objectives, including the establishment of Ontario as a North American leader in building renewable energy, encouraging energy conservation and creating green jobs.

"PowerStream is pleased with the provincial government's direction in conservation and sustainability and the role electricity distribution companies will play as outlined in the Green Energy Act," Peter Meffe, Chairman of PowerStream's Board of Directors said. "The successful delivery of conservation programs to our customers over the past four years has demonstrated our willingness and commitment to support the provincial government's initiative to create a culture of conservation in Ontario".

"Our own corporate commitment to the environment is also demonstrated through the construction of our head office to a gold LEED® standard, as well as the focus on the environment through the recent adoption of our 'Go Green with PowerStream' brand attribute," he added.

Meffe pointed out how PowerStream has gained valuable experience in the development of renewable energy projects, including a solar and wind turbine demonstration project adjacent to the company's head office building in Vaughan. The company has also shown its commitment to clean and renewable distributed generation through the connection of approximately 20 facilities within its service territory over the past two years. In addition, PowerStream is working with 10 other proponents as the company continues to connect clean energy sources to its distribution facilities.

Brian Bentz, PowerStream's President and CEO, is confident that the Green Energy Act will benefit the company's customers in Simcoe County and York Region through the development of local clean power supply sources.

"Changing the regulatory framework to allow electricity distribution companies like PowerStream to invest in or directly own and operate renewable and co-generation facilities within their respective service territories will help to mitigate provincial supply issues at the local level," Bentz said.

In addition to making it possible for local distribution companies (LDCs) to build and operate power generation facilities, the Green Energy Act will also expand their roles and accountabilities in the delivery of conservation and demand management (CDM) programs.

PowerStream Inc. is the second largest municipally-owned electricity distribution company in Ontario, providing service to more than 315,000 residential and business customers in Alliston, Aurora, Barrie, Bradford West Gwillimbury, Beeton, Markham, Penetanguishene, Richmond Hill, Thornton, Tottenham and Vaughan. It is an incorporated entity, jointly owned by the municipalities of Barrie, Markham and Vaughan.

Contact Information

  • Media Contact:
    PowerStream Inc.
    Eric Fagen, Director, Corporate Communications
    Office Phone: (905) 532-4522
    Media Line (24/7): (905) 532-4400
    Email: eric.fagen@powerstream.ca