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Trategic Partnership llloi l t\HI ' Ollus Power & PowerStream trategic Partnership A presentation by PowerStrearn to the Collus Power Task Team Sontember 19, 2011 St~'? OJ • Introductions • Ovetviev1 of PO\verSlream • Finar.c al Sum1nary •Future of the Industry in Ontario • Retained P1·esence in ColltngvJOOd •Employees • Rates •Safety ~unions •Vision for Future Rationali?.atioo •Governance · Aspirations h'>• ••·•n St~i" ' Vision We will be ar- .sru:i;i.lly_respol!JiiQle _comp_an\l,-Co_ru mtJJ.C.tU·-:o· £1i.e.eiiY1ronin)iiji)nd sustainable growth, leading the way Into the future with boldness, Innovation and best in class per for('}ance. Mission To !)(> l•illf r vi1 .d ~ i « 1;uwf'.- and related services safely and efficiently Lo >L•PPv• i Ou1 'l ,.,, ;0 11'H' ' 'm1.1l1I'; n: ;,,.,and to provide value, to our shareholders and the communities \Ve serve :- s1=v-Ji1' ,,. ,. i,..{:. , . ' ~ .. j\'»' " 'I \' I·'·•(" ' Some Facts About Us 2'''1 largest municipally-owned distribution company in Ontario Provides service to over 330,000 customers 500 employees • $1 billion in assets ~'S • Jointly owned by the municipalities of Barrie, Markham and Vauran ') '• ".(,; 'I' • t 1, "'_' -f ~'" ~ ,,.... ~ .[AA. ~ I w )·... t l'o;i·r> . '(,,..;..Jl r·"''' YI'_,, ,.,. f,t.l,f. •,'" .,.,.., l ,,. ~ ' ". 7 ') ..J pr- iL t 1 ""11> 1• ~· 1~ fo-i<·l·l ' ' .1-.'->" 1/' v ' s="iS -----_,...... )! ·"1 "l''"'1 J ~ J ,., , I . •. ; .' J 1r . ·;. J "" .. • • /. ' I - L <, • , /<•~ JI• Our Service Territory l ~~~~?J ...__ L' 807 square kilometres encompassing a populatio of aporox 1.m ately l,OOO,OOnO . & St~.jS 6_..., -/ ••, 1"· JI, .1~ ' ~'"',,....."1 1 - 1~- 1/A. S- .f!.J. '- r ') ' . ~t, . ) l ;e... B.,; c1 ,'- '" ~ ' " - ---- - - --- / ' .· I~ i I• r J"\'"; l (\if' , ..,,v'li' • ·"( -11 -1;11 / ' / ) ) A</ ~ \II'. I~~ ~ ·l;'f"v (; ,) (fi;..~ ~ t l \!") ~·i'/ lf,l.,, ... ii,.......- , u ' 1J"'. ,... ,,.. • ' \ 0 J ). ,. (:)~ ~~J .l'-1 .. .,., ' ti .. r v ' ~ \;"" .. ' f" {) I .,. , I \_.,_\. HI 0 I~ .--------------.::~"""'-,' i,...i~\ n ~" P. 9·''" ·\ ' ,g F u,,.. >-( ~r,_.;0·1 .. J • . Recogn ized in 2010 by the Mi.nistry of the Environment l ,,_,,,,. 1 as oemg one of Ontano's Envlfonmental Leaders 0, t'- / • Ontario Energy Association Company of the Year (2010) ~ I ,.., 1-.r Electricity Distributors Association LDC Performance 1~ Excellence Award (2010) f"'I 'it" ·'1 Vaughan Chamber of Commerce Company of the Yeor . t ~,,.,. (2010) i~ . ' ')-'' • ESRI International Special Award i11 GIS (2010) • Electricity Distributors Association Environmental Excellence Award (2010) .~ ~~,, • Smart Commute Employer of the Year for North • ( ~ '< Toronto. Vaughan (2009) \r ' ,,, ,,.,,... 1 .I " \ \ t. :·' (\.\fl'/' \ Points of Pride (cont'd) ,. \ ll';i> " • Premier Dalton McGuinty's announced government funding of electric vehicle charging stations at PowerStream's South Operation Centre (August 2011) • Parliamentary Assistant to the M inister of Economic Development & Trade, Monte Kw inter. attended an event / 0 • at PowerStream's head office celebrating Nissan Canada' s ' ' first Canadian delivery of ari electric Nissa n LEAF vehicle to PowerStream (July 201 l) • Energy M inister Brad Duguid announced the government' s ( establishment of a Smart Grid Fund at PowerStream's head office (April 2011.i .; •., , ..· • Former Minister of the Environment, John Gerretson, welcomed PowerStream as one of Ontario' s Environment Leaders at an Induction ceremony held at PowerStream's head offtce (April 2010). I Points of Pride (cont'd) Power_:x­ St reC!_l!1 r-.. PowerStream - Historical Development In 2001 Hydro Vaughan Distribution Inc. and Markham Hydro Oistr'.bution Inc joint! ~· purchase the electricity distribution assets of Richmond Hill Hydro Inc. from the Town of Richmond Hill and contintied to operate lhe utility O•' a stand alone basis. • In June 2004 Hydro Vaugh.ail Distribution Inc.. l"1arkham Hydro Dislr bution Inc. and Rlchn1ond Hill Hvdro inc. merge to crE:ate the third largest municipally 4 ov:ned electricity distribution company in Ontario. The new entity 1s named Powe.Stream h1c. In November 2005 PowerStream Inc. purchases the electricity distribution assets of Aurora H~1dro Conne<.tions Ltd. from the Tov1n of Aur·::ira. • In Januari,· 2009, Po\verStre.;im Inc. and Barrie Hydro Distribution Inc. 1ncrgc to create the second largest 1nunicipallv·o\vncd elect·icity distribution company in Ontario, serving more than 330,000 c us ton~ers in 11 Simcoe Countv and York Region communities. The company, jo'ntly owned by Barrie, Markhan1 and Vaughan. retains the corporate name or Po\verStream Inc. I •·•• 'II s1='"i" 2 ·1 .:i .t· -· • I, ) ..J'''1 f ., I ; ·' Our Leadership Team ~ t .... '1' • Brian Oentz, President & CEO ; l• , - Past Chair, £1ectrlclty Distribution Association. ~ r, -:- V ~· \'rce Ch~l ir, Ontario Energy AssociariOr) ~ · · .' . .1 l - former President & CEO, Hydro Vaughan Distnb~tlon - Former VP. Barrie Hydro Distribution \.Mark Henderson, EVP Asset Management & COO - Fonner President & CEO, Barrie Ht•dro Distribution John Glicksman, EVP and COO - Fonner VP, H ~rdro Vaughan Distribution - former VP, Hydro One Networks (Ind Ontano Hydro \, ~ Miian Bolkovlc, EVP Renewable Energy & Conservation - Former President & CEO, Markham Hydro 1' \ f 1 Dennis Nolan, C~rporat~ Serv~·ces & Secretary I l\ll">r \ tfl... \fl'- \•1 I] <I; , , I ,_.,... l\ .. 11· 1.1 ..'\ ... 1· IJ "' 5tl"O'Oltl (),,., ' Achieving Synergies Through Mergers • In th e past PowerStream has achieved merger savings result s have been in the range of 10 .. 15% of con-, bined OM&A. Through economies of scale an d achieving synergy savings, the PowerStream - Barrie Hydro merger realized ope<ating savings of approximately $5.S million annually, and approximaiely $1.0 million in annual cap ital savings. • PowerStream has been ab le to achieve the merger savings with no forced layoffs. 5 ' I· :r ,· .~···v\A" ., r I- ·' ; • i.,...; ~ i.. ·· • 1' ,, - ,. ~ ' ... ( . ; ..... .. I' j • .' ... (, ' I •i. 1,(J, ,.1 •;I .• [. · Financial Summary Powersiream has approximately SJ.OS in total asse1s. PowerStream ma intains a capital strucrure consistent with the OEB's deemed capital structure of 60/40 (debt-to­ equity), with the ability to leverage up to 65% debt should Pov:erStream require add itiona l cash; Currently, PowerStream's EDFIN debt is rated "A" by Standard and Poors. The rating reflects S&P's assessment of lne risk profile of the least credilworthy participant. Jn addition, PowerStream is rated "P:' bv Dominion Bond Rating Service . · • Since 2005 PowerStream (including the former Barrie ,,- V Hydro) have paid dividends totaling over $100 million to its '• Shareholders. 'l \.; \ ' ' .. , ~ The opportunity for Callus Power to recapitalize Its debt-to­ equity could provide Collus Power with the ability to free l { " up capital. Stf:?" \ .,.! . \, ' ... r" I ,...,.. ~ ' "" '-"" ..i-i ~7..i.. .' . ir r:r, ~-i' It.! ~J / f),} ~:14 ~ ~ ~J.. f.(', ,'i ... ~.I, /I ,. "' - Future of the Electricity Industry We believe that rationalization within the electricity inoust ry is coming. Rationa lization may be forced or v~nteer. ) • LOCs will not be able to stand still ana"th'l:l<ewho are first movers will get maximum value. • Election i. I ' ·'"" 'l• If ,« '· J (I I } ( .,J 1 I I a I 1,J. ' J· l ,. I ~ ,.. I ') r .~ ' i ' I J ·'1 · , ;.- ~ .~1 ' ,,:. I I . I r""" t ' l ( ·~~ l, ~ < \ I }.A1 ' }'' I ; . • ;. u J ,,, • I I I !· .. •: 11~ {) I I I 1 ' I'" ·~ •ft)'., " p • • I ,,, J' ,,... ) : I'" ' '. .,• 1-1' I • r I ' ~ ,I I ' • " • • I '· l • ' ~ ~ I' ' .a. ~ .. ....· .,,.../ ... r~ e , ... .,.. I . / ... lh ." l 1 i.:, . ! l ., 1' ~ ' { ,, ) j ~ I ,'. ' ,, I. ,,. '• c. • 1, 1 'f.>t'.' I ' • • f I!· .. -~ j ,.. ' .......11 ,t-oJ I' i ~ r· ' I • 'I ~ t 1 i1 f ~ I f • • '{' i \ ,, ,~.i. " .J 1· • ' ....... -, /. L I '(• ,,, . ··~""' .. ,~ , ... .. ~ lo ~I,/ .... r r ' 'IJ ........ ; '" .. Our Com1nunity Support . ... • Donated $1,000,000 to both Markham Stouffville Hospita l and , j .:l1 ,.., the Vaughan hospital initiative 1 1) .....u'" d '1 Committed $750,000 over a five-year period to Georgian t '·' College IJ I .. Since 2004, PowerStream and its employees have donated nea r y $600,000 to the United Way of York Region and the United Way of Greater Simcoe County. Over a four-year period, PowerStream employee participation in the Heart /?, Stroke Foundation's " Big Bike" event has ra ised ! ... ' more than $85,000 for the cha rity. Maior sponsor of Chamber of Commerce Business Achievement Awards in Aurora, Baffie, Markham. Richmond Hill an:f Vaughan. \ ~ •I ' St~#J" • \} 1 I • • ' ,\ ~ l1 ' /"&! rr' • ~ ,11 I ~ I ' ( t 1tl\. 1 ~ I \ A, ... ~ ' \. ' , I ' Our Cornmunity Support (cq'nt;d) I . .. - · . l .... ,,,J. ,,) ~I .,. I t 11 ( l I ...",. 1 ··~ ,... ) ,f, . " Our Com111unity Support (cont'~) Founding business mem ber of the York Region Character Community initiative and presenting sponsor of the organization' s annual awards event. Sponsorship of children's sports teams /employee volu·)teerism as part o f "Promoting Character through Cornmunity lnvolvernent11 initiative Sponsor of Sama Claus pa rades in Aurora, Barrie, M arkham, Richmond Hill and Vaughan • Presenting sponsor of the Barrie Earth Hour Music Festival and major sponsor of Woodbridge Earth Hour Lantern Walk M ajor sponsor o f Children's Aid Foundation of Simcoe County Sponsor of McLaren Arts Centre, Markham Thea tre, Wootfaridge and M arkham Fairs ,., f,~~ Our Community Su~~ort 1cont'd} if 1., ..-Ar. r ........ '""''"1"·\ ' .{. ,._,,., ..~-:. .I " St='e' I r,1 ~).. Our Commitment to Customers ,, 1· •• \ •' q ,J • Committed to delivering reliable power and relat ed l> ' services safely and efficiently to support. our customers' . 1··;"' quality of life as well as the communities we serve. .. • Work continuously to red uce the upward pressure on customer distribution rates '1 Currently have one of t he lowest customer distribution rat es in Ontario. J Communicate to customers on an ongoing basis through ,, Ol•r wstomer call centre as well as a variety of mass communication channels (advertising, online, news ·' releases, cust omer newslettel email blast s, events).
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