Skip to content

Cambridge, North Dumfries to review potential hydro merger

At a meeting next week
Hydro wires
Stock photo

NEWS RELEASE
CITY OF CAMBRIDGE
*************************
Councils for the City of Cambridge and the Township of North Dumfries will review a Terms of Reference during a special joint meeting next week (October 7) and appoint a Shareholders Strategic Advisory Committee to evaluate the potential benefits of a possible merger between Energy +Inc. with Brantford Power Inc.

The shares of Energy+ Inc. are jointly owned by the City of Cambridge (92.1%) and the Township of North Dumfries (7.9%).  The new committee with be comprised of members of the Councils of both the Township of North Dumfries and the City of Cambridge.

Under the proposed Terms of Reference, the Committee will explore the opportunity and provide recommendations to the Councils. The committee will fully review how a potential merger could impact customers, the City and Township, and the communities.

The provincial government has encouraged the consolidation of local electricity distribution companies in Ontario with the objectives of increased industry efficiencies, reductions of costs, and securing competitive distribution rates for customers.

The evaluation process will include a public consultation process. A potential agreement would have to be sanctioned by the Ontario Energy Board.

The proposed Terms of Reference will be posted online in the Council agenda package.  

*************************




Comments

Rogers Media
230 The Boardwalk Kitchener, ON, N2N 0B1 © 2006-2020 Rogers Media. All rights reserved.