Alectra Inc. Acquires Hydro One Brampton
Alectra Inc. has completed the acquisition of Hydro One Brampton from the Province of Ontario, creating the largest municipally-owned electricity utility in Canada, based on the total number of customers served.
Alectra Inc. was formed on January 31, 2017 following the merger of Enersource, Horizon Utilities and PowerStream. The Hydro One Brampton acquisition completes the transaction, which was originally announced in 2015.
Alectra Inc., through its subsidiary Alectra Utilities Corporation, serves approximately one million homes and businesses in the Greater Golden Horseshoe Area. Efficiencies expected over time will result in reducing pressure on customer distribution rates, improved customer service and system reliability and more robust emergency response capabilities for inclement weather.
Alectra will also increase investments in innovation and technologies, providing better energy choices for customers in its service territory and beyond.
"Customers benefit when local electricity distribution companies are consolidated and Ontario welcomes today's (2/28) announcement. The cost savings realized will help lower future distribution rates," explained Energy Minister Glenn Thibeault. "Ontario is pleased to be a part of the initiative which helped to create Alectra."
"Today (2/28) we welcome Hydro One Brampton's customers and employees to the Alectra Inc. family of energy companies," said Alectra Inc. President and CEO Brian Bentz. "We are committed to providing best-in-class service to the residents and businesses in Brampton and across the entire Alectra service territory, and growing the value of the company to provide optimal returns for our shareholders."
About Alectra Inc.
Alectra Inc., through its subsidiary Alectra Utilities Corporation, serves approximately one million homes and businesses across an 1,800 square kilometre service territory comprising 15 communities including Alliston, Aurora, Barrie, Beeton, Brampton, Bradford, Hamilton, Markham, Mississauga, Penetanguishene, Richmond Hill, St. Catharines, Thornton, Tottenham and Vaughan. The Alectra family of companies includes Alectra Inc. (Mississauga), Alectra Utilities Corporation (Hamilton) and Alectra Energy Solutions (Vaughan).