Haldimand County Hydro's customers will see a 1% reduction to their monthly distribution delivery rates as of July 1.
July 2, 2015
by PLANT Staff
TORONTO — Hydro One has completed the purchase of Haldimand County Utilities Inc., which was approved by the Ontario Energy Board (OEB) in March.
As part of the approved deal, Haldimand County Hydro’s 21,200 customers will see a 1% reduction to their monthly distribution delivery rates as of July 1. Distribution rates will also be frozen for the next five years.
Haldimand County Hydro will operate as usual until the transition to Hydro One is complete, including no changes to customer account numbers, bills, billing and payment options and service options until the transition to Hydro One is complete, which is expected to be sometime in 2016.
In December 2013, Haldimand County announced the sale of the local utility for $75 million. Hydro One paid Haldimand County approximately $65 million net after assuming Haldimand County Utilities’ existing debt.
Hydro One has also reached an agreement to acquire Woodstock Hydro Holdings Inc. (Woodstock Hydro), which is pending OEB approval.
Hydro One delivers electricity to about 1.4 million end-use customers and smaller municipal utilities in Ontario.