Enersource Corporation

MISSISSAUGA, ONTARIO--(Marketwire - Nov. 4, 2008) - Enersource Hydro Mississauga, one of Ontario's largest electrical distribution companies, has reached an agreement with Elster, a global leader in smart metering and smart grid system solutions, to complete the deployment of smart metering in Mississauga using the EnergyAxis^® system.

Smart metering, an Ontario Government initiative, calls for electricity distribution companies to replace conventional meters with smart meters which record how much energy is used and when it is used, allowing different electricity rates to be applied during different times of the day. This empowers the customer to adjust their electricity use during peak times and possibly shift usage to off peak times when the cost of electricity is lower.

Enersource Corporation President and CEO Craig Fleming said, "Enersource Hydro Mississauga has developed a progressive smart metering system based on Elster's EnergyAxis^® meters. Our industry-leading wireless IP based system is reliable, secure and cost-effective - and that's positive for our customers." He added, "The successful relationship forged with Elster secures Enersource's strong position to complete the deployment of smart metering technology on schedule with the ability to deliver time-of-use (TOU) rates when they are brought into play by the Ontario Government."

Enersource has implemented a multi-faceted customer communication program to support the smart metering deployment. The customer communications include components such as informative door hangers, public open houses in each community, detailed web information and distribution of thousands of collateral materials including a "Smart Avenues" educational video developed by Enersource.

To date, the utility's smart metering deployment has been well received by its customers. There have been over 85,000 smart meters installed and the remaining residential installations will be completed by the end of 2010.

Tom Wasik, Senior Manager for Enersource Hydro Mississauga is pleased with the progress to date. He said, "We are pleased to work with Elster to deliver smart metering solutions for our customers. We have found the system to be very flexible and look forward to expanding the system to provide our customers the tools to better manage their energy needs."

"Elster is excited that Enersource has chosen to continue this important relationship," said Jack Robertson, Vice President and General Manager for Elster Metering, Canada. "The Enersource program is another proof point of the value of Elster's smart metering solutions and how they can improve operational efficiencies of utilities while providing meaningful conservation capabilities to consumers."

About Enersource Hydro Mississauga

Serving over 185,000 customers in the City of Mississauga, Enersource Hydro Mississauga Inc. is the core regulated affiliate of Enersource Corporation, owned 90% by the City of Mississauga, and 10% by BPC Energy Corporation (Borealis), a subsidiary of the Ontario Municipal Employees Retirement System. Enersource Hydro Mississauga Inc. is focused on quality of service with the distribution of electricity, delivery of electricity conservation programs and smart metering solutions to meet government objectives. For more about Enersource visit www.enersource.com.

About Elster

Elster, a global leader in smart metering and smart grid solutions has delivered over 1.5 million smart metering devices worldwide with systems located in North America, Europe, Central America, Australia, New Zealand and the Caribbean. Elster smart metering system solutions provide utilities with energy conservation capabilities via demand response programs, smart grid applications, and operational efficiencies resulting in significant value creation across the utility enterprise. Elster has over 7,500 staff and operates globally in North America, South America, Europe, Africa, Middle East, and Asia. www.elster.com.