Council to discuss hydro merger plan

StCatherinesStandard.ca
Oct. 4, 2015

St. Catharines City Council is meeting Monday to consider a power utility merger recommendation

That recommendation from St. Catharines Hydro Inc. and Horizon Utilities Corp. regards the proposed merger with Enersource and PowerStream, and the acquisition of Hydro One Brampton.

The City of St. Catharines is the sole shareholder of St. Catharines Hydro and through this holding company, it owns a portion of Horizon.

Earlier this year, it was announced merger negotiations were underway. If successful it will create a new company owned by the municipalities of St. Catharines, Hamilton, Mississauga, Barrie, Markham, and Vaughan.

It will also include Borealis – part of the Ontario Municipal Employees Retirement System. The new company would purchase Hydro One Brampton.

To move forward the plan will require the approval of all the municipal shareholders and their holding companies, as well the Ontario Energy Board.

St. Catharines City Council will meet to discuss the merger Monday at 5 p.m., with that utility shareholder meeting open to the public from 5-5:30 p.m.

It will be followed by an in-camera discussion closed to the public and a regularly-scheduled council meeting at 8 p.m.

“On Monday, the council will be thoroughly brought up to speed on the final documents for consideration,” said St. Catharines Mayor Walter Sendzik.

“It will be about council learning in depth about the actual proposed merger,” Sendzik said.

“And then we’ll have almost two weeks for council to think about its impact on the community, what the benefits for the city and making sure we keep the (current Horizon) rates for customers at that competitive rate.”

Council will consider and vote on the proposal at its Tuesday, Oct. 20 meeting.

Anyone wishing to speak at that meeting can make a request with the city clerk at 905-688-5601, ext. 1507 or by e-mail a clerks@stcatharines.ca

Information regarding the proposed merger is available at www.horizonutilities.com

Agendas for council meetings are available at www.stcatharines.ca/agendas.

don.fraser@sunmedia.ca