Page 2 - Markham District Energy Year in Review 2015

Finding the Balance
Message from the Board Chair and President & CEO
For pure nancial investors, it could be argued the task of investing is not complicated. Find a strategic investment you understand, which meets your investment time horizon and appetite for risk; and move forward. For a municipal energy investor, the drivers are more complex. It is important to understand and prioritize the city’s overarching goals and determine which investments should be prioritized, in the correct timing, and for what reasons. The municipal investor needs to evaluate and balance these complex priorities.
As Markham District Energy (MDE) moves past its 15th year anniversary, and as the company grows and matures, “Finding the Balance” becomes increasingly important. While the primary purpose of this report is to summarize highlights from the company’s operations in 2015, updates will be reported within the context of exploring the investment drivers faced by the City of Markham and its thermal utility.
How does the municipal investor balance short term financial results and environmental performance? What about the balance between short term pro tability and investing strategic capital to attract new developments and businesses? How does MDE balance the goal to maximize current pro tability with the necessary investments in people and systems to maintain industry leading reliability and performance?
MDE’s rst 15 years has been an exciting time. The company has grown and performed; and has received international recognition. The next 15 years will be equally exciting and Finding the Balance will be key to the company’s ongoing success.
Thank you for your ongoing interest and support of Markham District Energy. We are working hard to maintain our position as one of the City’s proudest assets.
Bruce Ander, P.Eng. President & CEO
Jack Heath
Chair, Board of Directors
Year in Review 2015
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