2009 Financial Report
Among the many gratifying moments of serving on the board of Woodstock Hydro Services Inc. (WHSI) is presenting the annual financial report. Why is it a pleasure to do so? Because it is the culminating moment in the operating year, where all the hard work of WHSI employees is made known; and 2009 is the year where it was never more obvious.
2009 marked a record year of capital investment in electrical distribution infrastructure
by WHSI. Over $3 million was invested in improvements to Woodstock’s electrical system.
For example:
- over 100 customer homes were converted to 27.6KV via a rebuild of the
ageing 4KV system; - the overhead distribution system was rebuilt on Bower Hill Road, Beards Lane,
Commerce Way and Parkison Road;
- automated switching units were installed on the WHSI grid, allowing protection
and rapid system voltage recovery in load sensitive areas;
- the underground distribution system was rebuilt in Woodstock’s south-west
downtown area.
These improvements are an investment in the City of Woodstock, and will ensure long-term reliability for WHSI customers in years to come.
Also throughout 2009, WHSI worked collaboratively with Hydro One to improve transmission grid reliability in and around Woodstock. By the end of 2011, the City of Woodstock will enjoy the long-term benefits of an improved transmission and distribution station upgrade involving a total investment in excess of $100 million.
And finally in 2009, WHSI successfully implemented the conversion to Smart metering for the majority of our residential and commercial customers. While this program is a mandate of the Province, in the long run, all will enjoy the environmental benefits brought about by conserving energy.Thank you to all the employees of WHSI and to my fellow board members Dan McMullen and Ron Charie for another excellent year. Enclosed, I present to you the audited 2009 WHSI Financial Statements.
Sincerely,
J.P. Krill
Chair of the Board of Directors
