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Kitchener-Wilmot Hydro, Waterloo North Hydro merger moves step closer to reality

The 5 municipal councils linked with the proposed merger of Kitchener-Wilmot Hydro and Waterloo North Hydro all permitted a memorandum of understanding earlier this week.

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This can permit the utility merger to maneuver to the following stage of the method which is able to see on-line public info classes held by the 2 hydro corporations on Oct. 19 at 3 p.m. and seven p.m.

Learn extra:
Waterloo Region hydro companies announce plan to merge

People who want to present suggestions can achieve this on an internet site (connectinglocalpower.ca) that the businesses created forward of the merger.

The councils for the cities of Kitchener and Waterloo, in addition to the townships of Wellesley, Wilmot and Woolwich, are anticipated to decide on the merger in December.

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Combining the 2 utilities would create the seventh-largest utility in Ontario by the variety of clients.

If permitted by all municipal councils, the merger functions will then be submitted to the Ontario Vitality Board for regulatory approval, which is predicted within the third quarter of 2022.

The brand new firm would start operations quickly after.

Learn extra:
COVID-19 pandemic zaps electricity usage in Ontario as people stay home

Vitality Plus, which serves Cambridge and North Dumfries, can also be within the midst of a proposed merger with Brantford Hydro.

The councils permitted the merger again in August.

The province is prone to approve the mergers because it has achieved so a number of instances in different areas, believing that the mergers will decrease hydro prices for customers.

— with information from World Information’ Matt Carty

 

 




© 2021 World Information, a division of Corus Leisure Inc.

https://globalnews.ca/information/8250104/kitchener-wilmot-hydro-waterloo-north-hydro-moves-step-closer-to-reality/ | Kitchener-Wilmot Hydro, Waterloo North Hydro merger strikes step nearer to actuality

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