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Enova Power Corp. 2025 Report

Enova Power Corp. 2025 Report

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Greig Cameron
President and CEO
Enova Power Corp.

Message From the CEO

I’m pleased to present you with Enova Energy Corporation’s 2025 Annual Report.

In 2025, we made significant progress in achieving the objectives under our 2024–2028 Strategic Plan, including advancing post‑merger integration to 87% completion by year end, enabling broader process harmonization and value creation.

Some of the highlights include:
  • In 2025, Enova Power Corp. received two accolades: the Electricity Distributors Association’s LDC Performance Excellence Award and recognition as one of Southwestern Ontario’s Top Employers.
  • Our Billing team issued 2 million bills with a 99.9% bill accuracy rate.
  • Enova Power completed its bi-annual customer satisfaction survey, achieving an “A” in overall satisfaction and exceeding national and provincial benchmarks in every category.

We continue to be driven by the goals and objectives laid out in our 2024-2028 Strategic Plan.

Post‑Merger Integration

Integration remained a key focus as we worked to harmonize systems and processes and build a unified culture. In our third year of operations, we achieved 87% completion of our post‑merger integration projects, including:

  • Completed the merger of major IT and operational technology systems, enabling broader harmonization of processes.
  • Net synergies remain on track with the original business case; achieving $2.6 million in net savings.
  • We maintained talent retention of 96% and completed a comprehensive succession plan.
  • We consolidated our 24×7 Control Room operations into one facility.

Growth & Innovation

  • Enova Power secured $750,000 in NRCan funding for a pilot with GridS2 which could allow industrial and commercial electricity customers who have dispatchable or controllable loads to help reduce demand on constrained feeders, reducing the need for distribution system upgrades.
  • We obtained $250M in debt financing to repay existing debt and fund capital expenditures related to electricity distribution system renewal and expansion.

Empowering Communities

  • We contributed more than $450,000 to the communities we serve through donations and sponsorships, and participated in local events to connect with the public and promote electrical safety and energy awareness.

Grid Resiliency

  • System peak demand reached 660 megawatts (MW) on June 23 at 6:55 p.m., which is approximately 10% of Bruce Power output.
  • We invested $56M in capital projects in 2025 to support system renewal, capacity, and reliability.
  • Crews replaced or installed 686 poles, installed 20.7 kilometres of cable, and installed 415 Enova‑owned transformers.
  • Total transformer station capacity is 1,100 MW.
  • Total energy delivered in 2025 was 3.4 TWh.

Enova Power’s highly-skilled team delivered outstanding service results including:

  • Met 99.5% of scheduled appointments on time. This includes service connections and other appointments that require staff on site.
  • Connected 97% of services on time.
  • The average length of time a customer was out in 2025 was 66 minutes.

Enova Power’s highly-skilled team delivered outstanding service results including:

  • Met 99.5% of scheduled appointments on time. This includes service connections and other appointments that require staff on site.
  • Connected 97% of services on time.
  • The average length of time a customer was out in 2025 was 66 minutes.

Enova Power’s highly-skilled team delivered outstanding service results including:

  • Met 99.5% of scheduled appointments on time. This includes service connections and other appointments that require staff on site.
  • Connected 97% of services on time.
  • The average length of time a customer was out in 2025 was 66 minutes.

Looking Ahead

In 2026, our focus will continue to shift from post‑merger integration to our other strategic pillars: Grid Resiliency, Growth & Innovation, and Empowering Communities. We will keep building a smart, reliable, future‑ready grid to support evolving energy needs, while advancing innovation and strategic growth to enhance the customer experience and deliver sustainable energy solutions. We will also partner with employees, customers, and communities to enable sustainable economic development.

We continue to invest in increased automation across our distribution system while closely watching developments in cybersecurity threats and the opportunities presented by artificial intelligence. In collaboration with the Independent Electricity System Operator, we are participating in integrated regional planning that examines transmission capacity, considers emerging demand (including data centres), and evaluates solutions such as non‑wires alternatives.

Thank you to our employees and our Board of Directors for their unwavering support, and to you—our shareholders—for your continued confidence. Together, we will continue to drive what’s next in energy and sustainability for our communities and beyond.

Enova October 2025 230

Land Acknowledgement

We are on the traditional territory of the Neutral, Anishinaabeg and Haudenosaunee Peoples. We recognize our responsibility to serve as stewards for the land and honour the original caretakers who came before us. Our community is enriched by the enduring knowledge and deep-rooted traditions of the diverse First Nations, Metis and Inuit in these parts of our region today.

What's Inside...

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We are the backbone of our communities. That’s why we work around the clock to ensure our customers have power they can rely on. What we do matters to the people and businesses in our communities, and we have the proven responsiveness and experience to support our customers and keep them safe.

Integration remained a major focus in 2025 as we streamlined operations to serve our customers better. The hard work of our integration project teams and employees across all departments helped complete important projects and positioned Enova for a bright, productive future.

As Ontario’s seventh-largest electricity distributor, we take immense pride in overseeing and maintaining a vast network of powerlines—enough to span almost all the way across Canada – from St John, New Brunswick, to Kamloops, British Columbia. Our commitment to excellence and stewardship of this critical infrastructure is second to none.

Whether we’re answering a phone call or meeting customers at their property, we put our customers at the center of everything we do. We listen closely to each customer, tailoring our support to their unique needs and ensuring they have the information and assistance they need, quickly and with care.

Sustainability and environmental stewardship are important factors in all of Enova’s work. We believe in protecting and fostering the natural environment around us while working to introduce sustainable energy sources and renewable resources across our electricity grid.

Collaboration is how we move forward. By joining forces with community groups and industry partners, we spark new ideas, tackle challenges together, and create positive impacts in the communities we’re honoured to serve.

Enova Power Corp. had a successful financial year in 2025, with a 24% increase in net income compared to 2024.

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About Enova

We are the backbone of our communities. That’s why we work around the clock to ensure our customers have power they can rely on. What we do matters to the people and businesses in our communities, and we have the proven responsiveness and experience to support our customers and keep them safe.

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2025 Report

Fault Location, Isolation and Service Restoration Project (FLISR)

FLISR allows SCADA-controllable devices to automatically activate when a fault is detected. This activation automatically reroutes power to restore as many customers as quickly as possible after an outage. Later this year, the system will also monitor the network for sudden loss of voltage and attempt to isolate the cause and reroute power to as many customers affected as possible.

For more information on FLISR and its impact on reducing outage minutes across Enova’s service territory, visit enovapower.com/innovation.