Elexicon Annual Reports

A year of revitalizing, connecting and transforming.

It is rewarding to look back on 2023 as a year of revitalizing our business and connecting with the ever expanding Durham Region and other communities we serve. To support this growth, Elexicon Energy has been transforming our operations, completing two significant projects.

We kicked off the year with the opening of the Seaton Municipal Transformer Station, the first wholly owned and operated by Elexicon. This transformer will provide connection capacity for approximately 20,000 homes and businesses in the City of Pickering and Town of Ajax to power growth in these communities and will prepare us for the connection of renewable energy resources.

Heading further east, thea second major project was the completion of the Belleville Operations Centre. The 16,000 square foot facility houses staff across our Lines, Metering, Engineering and GIS teams, all under one roof. The opening of this Ccentre is a perfect example of our commitment to the economic development and prosperity of our service areas.

Looking forward, we continue to focus on foundational investments that will best position us for the future. The launch of the Distribution NEXT (“Dx NEXT”) program will better connect our people, processes and technology. In order to support this initiative, we are constructing an Integrated Operations Centre at our corporate headquarters in Ajax. The facility will encompass grid control, outage management, enterprise technology and operating technology.

As the communities we serve continue to grow, so does our team to be sure we can meet our customers’ needs and expectations today and tomorrow. To this end, we invested in our leadership team, adding three key roles to lead our regulatory, innovation and operational functions.

We have always understood that our people are Elexicon’s most valuable resource. In order to protect them in the workplace and beyond, we are revitalizing our safety and wellness training with the launch of the Back-to-Basics safety program. This multi-year initiative provides critical error reduction techniques employees can use to lower the risk of personal injury in any situation.

In terms of sustainability, we created a comprehensive Environmental, Social and Governance (“ESG”) Framework, committing to operating in an environmentally and socially responsible manner. We were proud to be the inaugural recipient of the Electricity Distributors Association’s (“EDA”) Sustainability Excellence Award in recognition of these efforts.

In order to further connect to the history of the areas in which we operate, we are dedicated to advancing reconciliation in direct response to Call to Action 92 issued by the Truth and Reconciliation Commission of Canada, specifically for the private sector. With the assistance of a third-party consulting firm, we are in Phase Two of developing a comprehensive Reconciliation Action Plan (“RAP”), which includes a formal Land Acknowledgment. Our focus now lies in the Activation Strategy stage, where we will implement tangible steps toward meaningful reconciliation.

We recognize that we are at a pivotal moment in our industry. Electricity demand is increasingincreasing, and supply is under pressure, while customer needs are evolving and utility technology is transforming. We are confident we have the people and strategy to be the energy company our customers and communities deserve and expect us to be, while facilitating an efficient and orderly transition into the future.