Hydro merger approved by local councils
Posted Dec 15, 2021 03:15:00 PM.
The proposed merger between Kitchener-Wilmot Hydro and Waterloo North Hydro is off to the next step.
This after it was approved by municipal councils of Kitchener, Waterloo, Wellesley, Wilmot and Woolwich, over the last week. That followed a four-week public consultation process.
It now goes to the Ontario Energy Board for review.
If approved, the new company is expected to begin operations later in 2022.
“Ontario’s electricity sector is changing quickly and this merger is a local solution that will help our communities adapt to these changes and thrive in the years ahead,” David Petras, chair of Waterloo North Hydro Holding Corporation, said in a news release.
“This larger, local, publicly owned utility will have more resources to invest in technologies that benefit customers while helping our communities’ transition to a lower carbon economy.” Petras added.
The proposed merger was first announced on October 1.
Due to to some vacancies not being filled yet and pending retirements, officials said previously, they do not expect any layoffs at either utility.
