January 16, 2017 – Previously known as MergeCo (until a new moniker was chosen), the merger between Enersource, Horizon Utilities and PowerStream—and purchase of Hydro One Brampton—is now officially knows as Alectra.
“[This merger] will result in an improved company that is better-positioned to serve customers, who will also benefit from savings on electricity rates,” said Glenn Thibeault, Ontario’s energy minister. “I am pleased that each of the municipalities involved recognized these benefits, and I hope more municipal leaders across Ontario will follow their lead.”
The players involved say the creation of Alectra will result in:
• Residential customers saving an average of $40/year on bills as merger efficiencies are achieved over the next 10 years.
• Expanded ability to monitor, report on and improve reliability and power quality due to greater resources.
• Increased investment in innovation and technologies.
The utilities will officially merge their respective utilities under the Alectra banner as of February 1, 2017, with the purchase of Hydro One Brampton effective February 28, 2017.
The new electric utility will serve nearly one million customers in the Greater Toronto and Hamilton areas. It will operate within a 1800-km2 service territory comprising 15 communities, including Alliston, Aurora, Barrie, Beeton, Brampton, Bradford, Hamilton, Markham, Mississauga, Penetanguishene, Richmond Hill, St. Catharines, Thornton, Tottenham and Vaughan.