Enercare Announces Expansion of Rental Program to New Brunswick
TORONTO, ONTARIO -- (MARKET WIRE) -- 07/13/11 --
EnerCare Inc. ("EnerCare") (TSX: ECI) today announced that its wholly-owned subsidiary, EnerCare Solutions Limited Partnership ("ESLP") has entered into an origination and servicing agreement with Enbridge Gas New Brunswick Limited Partnership ("EGNB"). Under the agreement, EGNB will originate and service water heaters and HVAC equipment in connection with EGNB's fuel switching programs in New Brunswick.
"We are excited to have been selected by EGNB to provide affordable and energy efficient space and water heating rental solutions as part of EGNB's efforts to transition consumers from oil, propane and electricity to natural gas in New Brunswick," said John Macdonald, President and Chief Executive Officer of EnerCare. "This new arrangement is a milestone for EnerCare in that it represents the first expansion of the company's rental program outside of Ontario."
It is expected that EGNB will commence offering EnerCare's rental solutions as part of its fuel switching program in mid-August in the nine communities it serves.
About EnerCare Inc.
EnerCare owns a portfolio of approximately 1.3 million installed water heaters and other assets, rented primarily to residential customers in Ontario. EnerCare also owns Stratacon Inc. and EnerCare Connections Inc., leading sub-metering companies, with metering contracts for condominium and apartment suites in Ontario, Alberta and elsewhere in Canada.
Additional information regarding EnerCare is available on SEDAR at www.sedar.com or through EnerCare's website at www.enercare.ca. Information on the sub-metering businesses is also available at www.stratacon.ca and at www.enercareconnections.com.
About Enbridge Gas New Brunswick
Enbridge Gas New Brunswick is regulated by the New Brunswick Energy and Utilities Board and has a distribution network that includes over 781 kilometers of natural gas pipeline. Enbridge Gas New Brunswick serves nearly 11,000 customers in Dieppe, Fredericton, Moncton, Oromocto, Riverview, Sackville, Saint John, St. George and St.
Additional information about Enbridge Gas New Brunswick is available at www.naturalgasnb.com.
1.905.695.7793 or 1.800.781.2943
Source: EnerCare Inc.
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