The City of Cambridge wants to know what residents think about a possible energy merger between the municipally owner Energy+ Inc. and Brantford Power Inc.
A news release Thursday says Cambridge council, along with the councils for the Township of North Dumfries, and City of Brantford, has completed an independent review of the possible merger between the two hydro companies. Now the municipalities are moving to the next step, which is public consultation. The news release says the two hydro companies will reach out directly to customers to alert them of the consultation.
Brantford Energy Corporation and its affiliates are owned 100 per cent by the City of Brantford. Energy Plus Inc. and its affiliates are jointly owned by the City of Cambridge (92.1 per cent) and the Township of North Dumfries (7.9 per cent).
The website EnergizingOurFuture.ca tells customers more about the potential merger and gives them an option to ask questions, and provide feedback.
The website also answers the question, why consider a merger?
The website says other utility mergers in Ontario have demonstrated that consolidation produces positive outcomes for the customers, communities, shareholders and employees. Some of the positive outcomes listed include stable distribution rates for the first 10 years after a merger, continued local presence and local ownership, and greater capacity to deliver advancements in technology in response to customer requests.
Further, the website says, this fits in with the provincial government’s ongoing attention on consolidating local distribution companies (LDCs) for efficiencies. And that Ontario electric utilities are rapidly changing, introducing technological advancements and a merger is a pathway for moving forward.
After the public consultation has been done, Brantford, Cambridge, and North Dumfries will hold open council meetings in August to review staff reports, legal agreements, and community feedback.
Each council will then pass motions to decide whether or not to proceed to the next stage. A final decision will require final approval by all shareholders and the Ontario Energy Board.
Cambridge residents can visit the EngageCambridge website for more information on how to participate in the feedback process.
Queries sent to city staff and council members about how this move will affect the city's revenue from its share in Energy+ Inc. were not answered before press time.