Inside this year’s financial report, you’ll note Woodstock Hydro Services Inc. (WHSI) posted its single biggest net earnings ever. For the calendar year 2012, WHSI is proud to report net earnings of almost $1.5 million. This accomplishment is significant given the utilities size and place within the Ontario electricity distribution sector. It’s also significant in that WHSI was able to achieve this level of profitability, while continuing to invest in hydro infrastructure and the community. Here’s just a few of these types of activities that occurred in 2012:
- over $4 million of capital programs were completed or begun, ensuring the continued safe and reliable distribution of electricity in the City;
- in partnership with Hydro One, the Commerce Way Transmission Station was activated, effectively doubling the supply capacity for the City – this bodes well for existing residents and businesses but especially for new businesses coming to Woodstock;
- working with the Electrical Safety Authority, WHSI proactively initiated a customer service inspection program to visit all customer sites within the City to ensure meter equipment integrity and customer safety;
- 5 more photovoltaic solar installations on WHSI substation properties were energized, as we partnered with the Woodstock Art Gallery via a contest to brand the solar “Sunny Side Up” program;
- an all-electric Nissan Leaf was added to the WHSI fleet of vehicles, to learn from this technology and to support the development of infrastructure to power electric vehicles within the community.
As WHSI focused on community activities in 2012, it still managed to meet or exceed all Ontario Energy Board mandated service delivery quality measures, as well as achieving the next level of health and safety excellence in the industry – an Outcomes Level I rating in the IHSA Zero Quest program. Thank you to all WHSI staff for a great year. And a special thank you to those WHSI line personnel who gave of their time away from family and friends to help restore power south of the border as a result of Hurricane Sandy.
On behalf of the Board of Directors, I present to you the 2012 Financial Statements of Woodstock Hydro Services Inc.
John Krill, Chair
Woodstock Hydro Services Inc.