City council rejects planned hydro merger
The boards of directors of Hamilton Utilities Corporation, St. Catharines Hydro Inc., and Guelph Hydro Inc. have terminated discussions regarding a proposed merger between their two local electricity distribution companies, Horizon Utilities Corporation and Guelph Hydro Electric Systems Inc.
On Monday night, Guelph council voted to reject the proposed merger that was initiated with a memorandum of understanding between Horizon Utilities and Guelph Hydro in June 2007.
There had been numerous public meetings about the merger held by Guelph Hydro to promote the merger and supply citizens with information. St. Catharines council voted for it. In a joint statement, Horizon Utilities Corporation board chair Robert Dolan and Guelph Hydro Electric System Inc. Board Chair Paul Truex, thanked staff and board members at both organizations for their efforts in working as a team through the development of the business case that was presented to all municipal shareholders.
