February 7, 2007 - Press releases
Montréal, February 7, 2007 – “I am delighted to be taking over the management of Gaz Métro, where I have worked for the last 10 years. Gaz Métro will build on the solid foundation laid by Robert Tessier to continue its development and be recognized as a first-rate energy company. Gaz Métro will work for the development of a sustainable and prosperous Québec by continuing to promote the judicious use of its energy resources.”
Those were the words of Sophie Brochu, the new President and Chief Executive Officer of Gaz Métro, speaking at the Annual Partners’ Meeting held today at the Palais des congrès de Montréal.
As announced on September 28, 2006, Ms. Brochu is replacing Robert Tessier, who has steered Gaz Métro for the last 10 years. Mr. Tessier becomes Chairman of the Board, succeeding Robert Parizeau.
Under the direction of Ms. Brochu, Gaz Métro intends to further strengthen the position of natural gas in Québec’s energy portfolio. Gaz Métro is also reviewing its regulatory framework in order to foster the creation of value for its investors, while continuing to support its customers in their energy efficiency efforts.
Gaz Métro will pursue its development through targeted acquisitions, as is the case with the acquisition of Green Mountain Power, the second-largest electricity distributor in Vermont. Furthermore, Gaz Métro will initiate and participate in structuring energy projects such as Rabaska and the Seigneurie de Beaupré wind power project.
Sophie Brochu is taking the helm just as Gaz Métro is preparing to celebrate its 50th anniversary. The company will salute its 50 years of history throughout 2007, under the theme “Blue, Today and Beyond”.
Active in the energy industry for almost 20 years, Ms. Brochu has worked at Gaz Métro for the last 10 of those years. In November 2005, she was appointed Executive Vice-President, Québec Distribution.
Gaz Métro Overview
With more than $2.7 billion of assets and more than 1,500 employees in Québec, Gaz Métro is a leading Québec energy company and one of Canada's largest natural gas distributors. Gaz Métro serves about 167,000 customers in Québec through an underground pipeline network of almost 10,000 km. A subsidiary, Vermont Gas Systems, serves about 38,000 customers.
Gaz Métro also owns significant investment interests in two natural gas transportation enterprises (Trans Québec & Maritimes and Portland Natural Gas Transmission System) and in an enterprise specializing in underground natural gas storage facilities (Intragaz). Gaz Métro Plus, a subsidiary of Gaz Métro, provides maintenance and repair services for natural gas equipment, urban cooling and heating systems (CDH Solutions & Operations) and leased water heaters, including electric water heaters (HydroSolution). Through various subsidiaries and affiliates, Gaz Métro is also active in water and waste water infrastructure diagnostics and rehabilitation (Aqua Data and Aqua-Rehab) and fibre optics (MTO Telecom).
Source: Frédéric Krikorian
Advisor, Public and Governmental Affairs