The Ontario Energy Board announced approval November 18 of the merger of Kenora Hydro Electric Corporation Ltd. and Thunder Bay Hydro Electricity Distribution Inc.
“Cost-efficiencies are expected and will directly benefit all customers” says Robert Mace, President and CEO of Thunder Bay Hydro, “Changes are coming in the new year, beginning with the unveiling our new brand.”
In its preceding decision on the merger application submitted by the two local distribution companies on April 12, 2018, the OEB said it was satisfied that the applicants had met the no harm test with respect to price, cost effectiveness and economic efficiency; that the applicants would continue to provide existing levels of service; and the proposed amalgamation, including the applicants’ five year deferral rate rebasing proposal, meets the “no harm” test.
Effective January 1, 2019, both the City of Kenora and City of Thunder Bay will proportionally own the new utility; 9% and 91% respectively. Once finalized, the municipal-owned company will continue to provide distribution services to 56,425 residential and commercial customers currently under the management of the two electricity distributors. Local services will continue to be provided in both communities by local employees.