“Five years ago, Elexicon embarked on a journey to provide our customers and communities with reliable, affordable energy services and to continually improve to meet their needs,” says Indrani Butany, Elexicon President and CEO. “The merger has provided us with the increased capacity and strength to take on the challenges and opportunities of a transforming energy sector. Our talented and dedicated employees – working together with an unwavering commitment to our customers and communities – are the driving force behind our success.”

Highlights of the Elexicon’s five-year trajectory since 2019:

• $45 million in dividends paid to shareholders for re-investment in their communities, $1.76 million in contributions to not-for-profit and community organizations through Elexicon’s Corporate Giving Program and $421,000 raised by Elexicon’s Charity Golf Tournament for vital community agencies.
• The launch of Altona Towns, Canada’s first pre-planned residential microgrid community located in the City of Pickering.
• The construction and operation of Seaton Municipal Transformer Station, the organization’s first transformer station wholly owned and operated by Elexicon.
• The construction of a new 16,000 square foot Operations Centre in the City of Belleville to serve the electricity needs of the community.
• Recipient of the Electricity Distributor Association’s (“EDA”) and Electrical Safety Authority’s Public Electrical Safey Award and the EDA’s Sustainability Excellence Award; named Electricity Storage Canada’s Champion of Diversity, Equity & Inclusion; winner of the City of Pickering’s Sustainability Award; and Ajax-Pickering Board of Trade’s Business Excellence Award in the 50+ Employees category.
• Average customer satisfaction survey score of 94 per cent.

“We are at a pivotal moment in our industry. The electricity grid is transforming, demand is increasing, supply is under pressure and technology for utilities and customers is evolving,” explains Ms. Butany. “The future of energy rests on the current transformational changes and electrification that are taking place in our sector which will place increasing pressure on our organization to deliver. I am confident we have the people and strategy to be the utility our customers and communities deserve and expect us to be, while facilitating an efficient and orderly transition into the future.”

Elexicon has launched a microsite that serves as a digital hub for customers to explore how and why the organization was formed, the goals of merging two legacy utilities, and the milestones and accomplishments since 2019. To learn more, visit: https://5years.elexiconenergy.com. And this is only the beginning of our year-long celebration! The microsite will be updated continually with contests, community events and other commemorative content.

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Elexicon Energy Merger History

• July 2017: Veridian Corporation and Whitby Hydro Energy Corporation announce that they have reached the first milestone in merger evaluations with the signing of a Memorandum of Understanding.
• June 2018: All five municipal shareholders of Veridian Corporation and Whitby Hydro Energy Corporation approve a proposed merger between the two companies to create a new energy corporation.
• December 2018: The Ontario Energy Board approves the proposed merger of Veridian Corporation and Whitby Hydro Energy Corporation.
• January 2019: Veridian Corporation and Whitby Hydro Energy Corporation unveil Elexicon Corporation and its subsidiaries, Elexicon Energy and Elexicon Group.
• April 2019: Veridian Corporation and Whitby Hydro Energy Corporation complete the closing of an agreement to merge the two companies to form Elexicon Corporation, the single shareholder of subsidiary corporations – Elexicon Energy and Elexicon Group.

 

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About Elexicon Energy
Elexicon Energy powers life’s most meaningful moments. As the fourth largest municipally owned electricity distributor in Ontario, our vision is to empower the communities we serve and help customers seize opportunities to ignite a better future. We provide more than 178,000 residential and business customers with reliable and affordable energy services. Elexicon Energy is owned by five municipalities: the City of Pickering, the Town of Ajax, the Town of Whitby, the City of Belleville and the Municipality of Clarington. Learn more at elexiconenergy.com and follow us on X and LinkedIn.

Media Contact
Jodi MacLean
Manager, Communications, Marketing and Public Affairs – Elexicon Energy
P: 289-387-1469 | E: jmaclean@elexiconenenrgy.com