Kitchener-Wilmot Hydro, Waterloo North Hydro merger moves step closer to reality
The five councils involved in the proposed merger of Kitchener-Wilmot Hydro and Waterloo North Hydro all passed a letter of intent earlier this week.
This will allow the utility merger to move on to the next phase of the process, which will be held on October 19 at 3:00 PM and 7:00 PM, public online briefing sessions between the two hydropower companies
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Those who wish to provide feedback can do so on a website (connectinglocalpower.ca) that the companies created prior to the merger.
The councils of the cities of Kitchener and Waterloo as well as the townships of Wellesley, Wilmot and Woolwich are expected to decide on the merger in December.
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The combination of the two utilities would create the seventh largest utility in Ontario by number of customers.
If approved by all local councils, the merger proposals will then be submitted to the Ontario Energy Board for regulatory approval, which is expected in the third quarter of 2022.
The new company should start operations shortly thereafter.
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Energy Plus, which serves Cambridge and North Dumfries, is also in the middle of a proposed merger with Brantford Hydro.
The councils approved the merger as early as August.
The province is likely to approve the mergers, as it has done several times in other areas, believing that the mergers will reduce hydropower costs for consumers.
– with files from Matt Carty of Global News
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