Ontario municipal electric utilities Enersource Corp., Horizon Utilities Corp. and PowerStream Inc. have combined to form Alectra Inc.
"We are pleased to move forward as Alectra Inc. to provide customer service that is second to none, and optimal returns for our shareholders," Alectra President and CEO Brian Bentz said in a Jan. 31 news release.
On Feb. 28, Alectra will also close its acquisition of Hydro One Brampton Networks Inc. forming one of the largest municipally owned electric utilities in Canada. Aimed to improve service and lower costs for customers, the merger received approval from the Ontario Energy Board in December 2016.
The holding company will be headquartered in Mississauga, Ontario, while its subsidiaries Alectra Utilities Corp. and Alectra Energy Solutions Inc. will be headquartered in Hamilton and Vaughan, Ontario, respectively.
Alectra's service territory extends 1,800 square kilometers and covers about 1 million customers in 15 communities including Alliston, Aurora, Barrie, Beeton, Brampton, Bradford, Hamilton, Markham, Mississauga, Penetanguishene, Richmond Hill, St. Catharines, Thornton, Tottenham and Vaughan.