January 26, 2015 8:15 PM ET

Electric Utilities

Company Overview of PowerStream Inc.

Company Overview

PowerStream Inc., an electricity distribution company, provides power and related services in Canada. It is also involved in solar power generation business. As of December 31, 2013, it owned and operated a distribution system consisting of 2,535 kilometers of overhead circuit wires and 5,034 kilometers of underground cables; 11 transformer stations; 54 municipal substations; 43,722 transformers; 1,825 switchgear; 41,005 poles and pole structures; and 40,557 solar PV panels, as well as has a total generation capacity of 9.14 MW. The company serves approximately 370,000 residential and business customers in the service areas of Alliston, Aurora, Barrie, Beeton, Bradford West Gwillimbury, Mark...

161 Cityview Boulevard

Vaughan, ON L4H 0A9

Canada

Key Executives for PowerStream Inc.

Chief Executive Officer and President
Age: 71
Chief Financial Officer and Executive Vice President
Chief Operating Officer and Executive Vice President
Executive Vice President of Corporate Services and Secretary
Age: 59
Executive Vice-President of Renewable Generation and Conservation
Compensation as of Fiscal Year 2014.

PowerStream Inc. Key Developments

PowerStream Signs Multi-Year Conservation Agreement in Ontario

PowerStream Inc. has signed on to the Ontario Ministry of Energy's Conservation First framework for 2015-2020. Under the new six-year framework, announced early in 2014 by Bob Chiarelli, Minister of Energy, Ontario's distribution companies are responsible for achieving a combined target of 7,000 gigawatt-hours (GWh) of energy savings by 2020. This represents approximately a 5% reduction in provincial electricity consumption compared to current levels. PowerStream's agreement, which was signed on November 13, 2014, calls for the utility to achieve a 535 GWh reduction for its service territory. Although the new target is a significant increase from what had been previously set for the current framework, PowerStream remains committed to providing its customers with the tools and information they need to best manage and reduce their electricity consumption.

PowerStream Inc. Unveils New Level 3 Charger Unit in Vaughan

PowerStream Inc. has unveiled a level 3 charger unit at its head office in Vaughan. The unit, which charges 10 times faster than the more common-place level 2 chargers, is equipped to handle both CHAdeMO and Society of Automotive Engineers (SAE) compatible electric vehicles. The level 3 charging station's power is being supplied by PowerStream but paid for courtesy of G&W Canada and Survalent Technology. PowerStream also introduced the first commercial Vehicle-to-Grid (V2G) power supply system in North America with two high-capacity level 2 chargers connected to a solar carport located in the back parking lot of the company's head office building.

PowerStream, Inc. Launches Advantage Power Pricing

PowerStream Inc. has launched Advantage Power Pricing, a pilot electricity pricing initiative that will provide participating customers with an opportunity to better manage their electricity costs. Being offered in partnership with the Ministry of Energy and Energate Inc., Advantage Power Pricing is an optional pricing plan for residential customers in which the daily on-peak price varies in response to overall provincial demand. Customers are given an opportunity to shift their consumption away from the on-peak price period, which is more expensive, to less costly, lower-price periods. This shifting reduces the strain on the province's electricity grid and provides customers with an opportunity to better manage their electricity costs. Participating consumers will be equipped with Energate Foundation Smart Thermostats and Home Energy Gateways that will provide them with the up-to-date pricing information and respond to price changes intelligently and automatically according to their preferences. Participants of Advantage Power Pricing are expected to save approximately 10% on their electricity costs and are guaranteed to not pay more than if they were on the existing price plan.

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Recent Private Companies Transactions

Type
Date
Target
Private Placement
November 21, 2014
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