The province is moving forward with a hydro merger and the good news is that it looks like it will POSITIVELY impact your hydro bill!
The second-largest electricity distributor in Ontario will be created with this merger of these three utilities with Hydro One Brampton. It is to create more efficient services of safe, reliable electricity. The early forecasts also estimate your bill will go down by $40 per year for an average customer.
Minister of Energy Bob Chiarelli called this new setup a “win-win for the electricity ratepayers involved, as well as the municipalities in each of the communities”.
The transaction and the creation of the new company are subject to certain closing conditions, including Competition Bureau and Ontario Energy Board (OEB) approval, expected to occur later in 2016.
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