TORONTO, ONTARIO–(Marketwire – March 25, 2009) – The Consumers' Waterheater Income Fund (the "Fund") (TSX:CWI.UN) today announced that the compliance office of the Ontario Energy Board (the "OEB") sent a compliance bulletin (the "Bulletin") regarding installation of sub-metering systems in residential complexes in Ontario to all licensed smart sub-metering providers, including the Fund's subsidiary Stratacon Inc., and all unlicensed and licensed electricity distributors. The Bulletin advises that the compliance office takes the view that the installation of smart sub-metering systems in residential complexes is not currently authorized under the Electricity Act, other than in condominiums, and therefore such activities are prohibited. The Bulletin further indicates that the compliance office expects all non-compliant activities to cease immediately. The Fund is in the process of considering the implications of the Bulletin for its sub-metering business and is engaging its advisors to determine an appropriate course of action in light of the Bulletin. The Fund believes that sub-metering is an important facet of the Ontario government's electricity conservation initiatives and looks forward to working with the OEB to clarify the regulatory regime relating to residential complexes so that residents together with the Fund can contribute to fostering a culture of conservation in Ontario. It is important to note that the Bulletin does not apply to any sub-metering activities in condominium complexes or to Stratacon's activities outside of Ontario. About The Consumers' Waterheater Income Fund The Fund owns a portfolio of approximately 1.4 million installed water heaters and other assets, rented primarily to residential customers in Ontario. The Fund also owns Stratacon Inc., a leading "smart" sub-metering company, with metering contracts for approximately 44,000 condominium and apartment suites in Alberta, Ontario and elsewhere in Canada. Additional information regardi ng the Fund, including its current Annual Information Form is available on SEDAR at www.sedar.com. Additional information on the sub-metering business is available at www.stratacon.ca.
For further information: The Consumers’ Waterheater Income Fund
R. Stephen Bower
Chief Financial Officer
(905) 943-6292 or 1-877-877-0142
[email protected]
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