Alectra Inc. Reaches Five-year Milestone, Celebrates Successful Merger, Growth, and Community Support Strategies

MISSISSAUGA, ON, Feb. 1, 2022 /CNW/ - Marking its five-year anniversary today, Alectra Inc. is celebrating the promises it made in 2017 to keep electricity rates as low as possible, invest in grid infrastructure, improve customer service, and deliver consistent dividends to its municipal shareholders. These promises are reinforced by its concerted efforts to provide safe and reliable service during the COVID-19 pandemic, and to promote public, employee and community well-being during this crisis. Alectra has provided significant financial support to area foodbanks, mental health services and front-line health care workers throughout the pandemic.

[Alectra Employee Caroline Karvonen, Manager, Sustainability] (CNW Group/Alectra Inc)

"From the beginning, we believed there is strength in numbers, and that by joining together we can help shape the future of energy for the benefit of our customers.  That vision has become a reality. Our brand promise to help customers, employees, and communities "discover the possibilities" that Alectra embodies is continuously evolving and defines our future as one of Canada's most innovative energy companies," said Alectra's President and CEO, Brian Bentz.

Highlights of the company's five-year trajectory since 2017 include:

• Successfully integrating five electricity distribution companies into Canada's largest, municipally owned utility and integrated energy services company based on customer count.
• Recognition by Canadian Dealmakers as the 2017 Infrastructure and Utilities Mergers and Acquisitions Deal of the Year.
• Approximately $1 billion in capital projects to modernize as well as build greater reliability and resiliency in its approximately 2,000-square-kilometre electricity grid.
• Significant investments of approximately $85 million to harmonize customer service and integrate enterprise IT business systems and processes to build a common customer experience platform and streamline business processes.
• The acquisition of emergency storm response and power restoration services company, Holland Power Services, as well as a growing portfolio of behind the meter distributed energy resources, through its commercial affiliate Alectra Energy Solutions Inc.
• Util-Assist client expansion across Canada and the United States, resulting in an annual growth in revenue of more than 165%.
• Recognition as an Imagine Canada "Caring Company" for its investments in local community organizations, which total more than $4 million in cash and in-kind donations.
• Maintaining electricity distribution rates that are among the lowest of comparable utilities in Ontario.
• Investments through its Green Energy & Technology Centre in projects that will give consumers more choice and control in how they manage their electricity use, and help pave the way for more electrification of transportation

In addition, the company's Environmental, Social and Governance (ESG) plans are to:

• Reduce corporation operational greenhouse gas emissions by 38 per cent by 2025 and commit to Net Zero by 2050.
• Make further capital investments in 2022 of approximately $260 million to adapt the distribution grid in anticipation of increased risks resulting from climate change.
• Invest more than $1.5 million in cash and in-kind services in 2022 to local non-profit organizations, hospitals, and academic institutions.
• Continue to build upon its position as one of the Top Employers in the Greater Toronto Region and consistently rated one of the Best 50 Corporate Citizens in Canada by Corporate Knights for its sustainability performance.
• Proud sponsor of the 2022 Niagara Canada Games as the Official Energy Supplier to the Games and install, power, and operate high-voltage and solar generation equipment at the Henley Rowing Centre in St. Catharines. 

Through all these initiatives, Alectra will focus on enabling its customers, employees, partners, and local communities to build a future based on a clean, reliable, and affordable supply of energy and integrated energy solutions.

About Alectra

Serving more than one million homes and businesses in Ontario's Greater Golden Horseshoe area, Alectra Utilities is now the largest municipally owned electric utility in Canada, based on the total number of customers served. We contribute to the economic growth and vibrancy of the 17 communities we serve by investing in essential energy infrastructure, delivering a safe and reliable supply of electricity, and providing innovative energy solutions.

SOURCE Alectra Inc

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