Cristine Prattas, Chair, Newmarket-Tay Power introduced the Newmarket-Tay Power Distribution Ltd. Board Members. Gianni Creta, President, ENVI Network introduced the ENVI Networks Ltd. Executive Directors.
Ysni Semsedini, President, Newmarket-Tay Power Distribution Ltd. outlined the consolidated financial statements and provided a brief overview of the motions that were required by the Town of Newmarket Council. He also reviewed the COVID-19 impacts including the adjustments to time of use rates, and the moratorium on disconnects, along with mitigation strategies and next steps.
Gianni Creta, President, ENVI Network provided a business review of ENVi Network, outlined the impacts of COVID-19 on the customer installs, employees, and financials.
Members of Council queried the presenters regarding the Newmarket-Tay Power Distribution Ltd. dividend impacts due to COVID-19, possible expansion of ENVI, and the opportunity for Provincial funding.