PowerStream

A PowerStream vehicle.
PowerStream electricity meter.

PowerStream is an energy company providing 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,[1] including Aurora, Alliston, Barrie, Beeton, Bradford West Gwillimbury, Penetanguishene, Markham, Richmond Hill, Thornton, Tottenham and Vaughan, where the corporate headquarters are located. Through a partnership with the Town of Collingwood in the operation of Collus PowerStream the company also serves customers in Collingwood, Stayner, Creemore and Thornbury.

It was formed as a result of a merger of Markham Hydro, Hydro Vaughan, and Richmond Hill Hydro that took place in 2004. The separate utilities had been created by the York Municipal Hydro-Electric Service Act in 1978. Since the merger, PowerStream also gained distribution territory in Aurora after the purchase of Aurora Hydro in 2005. On January 1, 2009, the company merged with Barrie Hydro and then on August 2, 2012 purchased 50 per cent ownership of Collus Power from the Town of Collingwood.

Electricity distributed by PowerStream is primarily provided by Ontario Power Generation and Bruce Power via Hydro One transmission lines from various power plants in Ontario. The all-time peak load for PowerStream was 1,972 MW. PowerStream also operates a renewable generation division under the name PowerStream Solar and is actively involved in conservation and environmental initiatives.

It is an incorporated entity, jointly owned by the City of Barrie, the City of Vaughan and the City of Markham.

On November 1, 2013, a new affiliate, PowerStream Energy Services Inc., was created to facilitate the pursuit of non-regulated business opportunities. It resulted in a corporate governance restructuring and the establishment of PowerStream Holdings Inc. as the parent company to both entities.

On March 24, 2016, the shareholders of PowerStream Holding's Inc. signed agreements to merge the utility with Enersource (owned by the City of Mississauga and Borealis) Horizon Utilities (owned by the Cities of Hamilton and St. Catharines) and then to purchase the assets of Hydro One Brampton from the Province of Ontario.

See also

References

  1. ↑ Sansom, Ben (20 February 2009). "PowerStream". Achieving Business Excellence. Retrieved 2009-08-07.
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