Maurizio Bevilacqua named Chair of PowerStream's Board of Directors

Vaughan Mayor to chair energy company that serves more than 365,000 customers

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| Source: Powerstream

VAUGHAN, Feb. 3, 2014 (GLOBE NEWSWIRE) -- PowerStream, a community-owned energy company that serves more than 365,000 customers in 15 York Region and Simcoe County communities, announced today the naming of City of Vaughan Mayor, Maurizio Bevilacqua, as Chair of the company's Board of Directors.

Bevilacqua assumes his new role after serving three years as Vice Chair of the Board of Directors, which is comprised of representation from the company's three municipal shareholders – Barrie, Markham and Vaughan. City of Markham Mayor, Frank Scarpitti moves into the Vice Chair position after serving as Chair over the previous three years.

Other member on PowerStream's Board of  Directors include Barrie Mayor, Jeff Lehman; Barrie Councillor, Lynn Strachan; Vaughan Regional Councillors, Michael Di Biase, Gino Rosati and Deb Schulte; Vaughan Councillors, Tony Carella  and Alan Shefman;  Markham Regional Councillor, Jim Jones; Markham Councillor, Alex Chiu as well as Ron Stevens and Dan Horchik.

QUOTES

  • "It is an honour and a privilege to be serving as the Board Chair of a company which is recognized as being one of the leaders in the energy industry," said Bevilacqua.  "I am looking forward to continuing to work with the other members on the Board to provide the necessary governance to further assist PowerStream in its mission to deliver reliable power and related services to our customers and the communities we serve."
  • "It has been a pleasure to work with Mayor Scarpitti over the past three years in his role as Chair," explained PowerStream President and CEO, Brian Bentz.  "I am certain that Mayor Bevilacqua's leadership will prove to be equally rewarding for the company and the customers we serve."

BACKGROUND

  • PowerStream is celebrating its 10th anniversary in 2014.  The company was created on June 1, 2004 following the merger of three York Region-based utilities – Hydro Vaughan, Markham Hydro and Richmond Hill Hydro.
  • Following the purchase of Aurora Hydro Connections in 2005, a merger with Barrie Hydro in 2009 and the formation of a strategic partnership with the Town of Collingwood in the ownership of its utility, PowerStream is now the second largest municipally-owned electricity distribution company in Ontario.
  • In addition to electricity distribution, PowerStream also operates a renewable generation business under the name 'PowerStream Solar' and recently launched an affiliate company 'PowerStream Energy Services Inc.  

ABOUT POWERSTREAM

PowerStream is a community-owned energy company providing power and related services to more than 365,000 customers residing or owning a business in communities located immediately north of Toronto and in Central Ontario. It is jointly owned by the Cities of Barrie, Markham and Vaughan.
 
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Eric Fagen, Vice President, Corporate Communications
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Website: www.PowerStream.ca