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January 3, 2019

Guelph Hydro closes electricity distribution utilities merger

Canada’s Guelph Hydro Electric Systems and Alectra Utilities have completed the merger of their two electricity distribution utilities.

Canada’s Guelph Hydro Electric Systems and Alectra Utilities have completed the merger of their two electricity distribution utilities.

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Upon completion of the deal, the new merged entity is reported to be the largest municipally-owned electric utility in Canada by customer base and will retain the Alectra corporate name.

It will be co-branded Guelph Hydro and Alectra Utilities in the former Guelph Hydro service territory of Guelph and Rockwood for a period of time.

Customers of the City of Guelph and former Guelph Hydro clients are expected to benefit from the merger. Expected benefits include lower electricity distribution rates and improved reliability and power quality for homes and businesses.

Furthermore, an operations hub for south-west Ontario will be maintained in Guelph and a new Green Energy & Technology Centre will be created.

Alectra president and CEO Brian Bentz said: “Providing customers with safe, reliable and efficient service will continue to be a top priority for our company.

"I am certain this merger will prove to be a win-win-win situation for our customers, shareholders and the communities we serve."

“I am certain this merger will prove to be a win-win-win situation for our customers, shareholders and the communities we serve.”

Additionally, Alectra’s original 13-member Board of Directors will now include representation from the City of Guelph.

In October 2017, the City of Guelph began merger negotiations between Guelph Hydro Electric Systems and Alectra, and later that year in December the city council voted in favour of the merger.

Last October, the Ontario Energy Board (OEB) also approved the merger of the two utilities.

Alectra Board Chair Norm Loberg said: “This transaction will benefit all Alectra customers. We’re confident the merger will not only help to reduce the upward pressure on customer distribution rates but will also serve as a catalyst for developing and delivering new energy products and services.”

Alectra is a family of electricity distribution utilities delivering to homes and businesses in Ontario’s Greater Golden Horseshoe area. The Alectra family of companies includes Alectra, Alectra Utilities Corporation and Alectra Energy Solutions.

Free Report
img

Battery energy storage will be the key to energy transition – find out how

The market for battery energy storage is estimated to grow to $10.84bn in 2026. The fall in battery technology prices and the increasing need for grid stability are just two reasons GlobalData have predicted for this growth, with the integration of renewable power holding significant sway over the power market. Over the last decade, various new digital and smart technologies have been integrated, with countries aggressively promoting the modernization of grids, enhancing the grids’ capability to meet present and future requirements. As part of the effort, batteries are being deployed for a wide range of uses. A few such uses include aiding smart grids, integrating renewables, and creating responsive electricity markets. Read this report for expert insights into:
  • Market size and growth
  • Key drivers and restraints
  • Regional trends
  • The impact of the commodity price increase on the battery prices
Get ahead of this growing market and win big by utilizing our report.
by GlobalData
Enter your details here to receive your free Report.

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