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Building Durham’s Competitive Edge Energy Durham Economic Prosperity Conference 2014 Michael Angemeer P.Eng. President & CEO Veridian Connections.

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Presentation on theme: "Building Durham’s Competitive Edge Energy Durham Economic Prosperity Conference 2014 Michael Angemeer P.Eng. President & CEO Veridian Connections."— Presentation transcript:

1 Building Durham’s Competitive Edge Energy Durham Economic Prosperity Conference 2014 Michael Angemeer P.Eng. President & CEO Veridian Connections

2 7 th largest local distribution company (LDC) ~120,000 customers Owned by Pickering, Ajax, Clarington, Belleville Serves 9 communities, product of 2 mergers and 5 acquisitions Top quartile efficiency High returns to shareholders 7/24 Control Centre Competitive rates

3 Adding value to customers Lower costs, less increase to electricity costs – Shared services – Cooperative – Mergers – Purchase of Hydro One territory Higher levels of service – 7/24 Control Centre – Improved coordination with municipalities – Prudent investments in infrastructure with limited capital

4 Improving Community Resilience Ice storm, Hurricane Sandy Climate change Smart Grid – UOIT Improved communication with customers – Twitter, outage map Analyze low lying areas, harden overhead system Microgrids for critical community infrastructure – Hospitals – Warming centres – Water pumping – Electricity and heat

5 Combined Heat and Power (CHP) Help business be more competitive Campuses – hospitals, universities, critical infrastructure Seaton employment lands Intensification areas – places to grow Pickering airport Greenhouses – local food – Airport and other areas

6 A One time opportunity Purchase of Hydro One distribution territory Veridian’s size could increase by more than 40% Reduce overlap of services Increase in service levels Lower rates over time in Hydro One part of Clarington, Uxbridge and other communities – Hydro One distribution rates are over 30% more than Veridian’s With partners, we could take advantage of more of this opportunity and see the benefits of growth east and north of Toronto coming back mostly to Durham Region

7 Thank you Michael Angemeer

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