Page 5

2014 Sustainability-based Annual Report

3 2014 As the electricity world shifts into new realms of possibility, the Horizon family of companies is assessing its future through the lens of opportunity. The 2014 achievements of Horizon Holdings Inc. and its affiliate businesses establish important foundations for launching our companies, our customers and our communities into the future, truly Connecting to Tomorrow. Paramount among these 2014 accomplishments was Horizon Utilities Corporation, our regulated business, completing a comprehensive development plan, one that looks out 20 years and defines a specific capital and operating plan for the next five. As the first utility to receive approval under the Ontario Energy Board’s new ‘custom’ incentive rate-setting framework, we have set the stage for renewal and modernization of our distribution system in a timely manner, one that ensures continued reliability and avoids undue increases in renewal costs that require recovery through customer rates. We are modernizing our distribution system with the knowledge that our achievements stem from our most valuable asset – our human resources. The strength and success of Horizon Utilities are due to the efforts of its employees each and every day. Knowing our people embrace the public trust of delivering a critical service reliably and safely, and do so with a high degree of efficiency and productivity, makes us a better business. These efforts make us proud to be recognized, for the fourth year in a row, as a Hamilton-Niagara Top 10 Employer. $5.6 million The Horizon family continues to find ways to be easy to do business with while supporting its communities and customers in achieving their goals. Our communities are able to better attract businesses through unique offerings like Horizon Utilities’ customer infill development incentive, whose innovativeness was honoured with a Canadian Urban Institute ‘Brownie’ Award in 2014. In terms of conservation and demand management, we again facilitated one of the largest incentive grants ever in Ontario, with $5.6 million awarded to our Hamilton customer Air Liquide. Improving how we provide services to our customers was another accomplishment in 2014. Horizon Utilities upgraded its Geographic Information System and introduced an Outage Management System, two technologies that now seamlessly work together to resolve outages more quickly and efficiently. Horizon Energy Solutions Inc., our competitive enterprise, similarly improved its service offering for revenue metering customers, becoming one of the few service providers with Measurement Canada, IESO and ISN® certifications. Horizon Holdings Inc., through its operating subsidiaries, had another solid year of financial performance in 2014. We invested $33.0 million in infrastructure improvements and paid dividends to our community shareholders in Hamilton and St. Catharines totaling $13.5 million. saveONenergy conservation incentive grant awarded to Air Liquide We achieved all this while maintaining among the lowest distribution rates in every customer class in Ontario. 2015 marks Horizon Utilities’ 10th anniversary as a merger of St. Catharines’ and Hamilton’s utilities. From the outset, our company has demonstrated how mergers can benefit customers, shareholders and communities. The evidence rests in our low costs, low rates, strong profitability, reliable service and excellent customer satisfaction. Our strategy of seeking further merger opportunities will advance all these benefits to our communities and shareholders – and the others that join us. In closing our first decade, we are excited for the future. We are well prepared for its challenges and opportunities, whether electric vehicles, smart grid, distributed generation, regional planning or others we do not yet know. We will continue to work hard – advancing the sustainability performance of the Horizon family of companies through innovation and foresight, truly Connecting to Tomorrow. Sincerely, Robert Cary Chair, Board of Directors Max Cananzi President & CEO $33 million investment in infrastructure CUI Brownie Award for customer infill development strategy


2014 Sustainability-based Annual Report
To see the actual publication please follow the link above