Shareholders agree… but will the OEB allow merger of Brantford Power and Energy Plus?
September 7, 2021 | By Anthony Capkun
September 7, 2021 – Brantford Energy Corp. and Cambridge & North Dumfries Energy Plus Inc.—both Ontario local distribution companies—announced that their municipal shareholders have approved a proposed merger of the two companies to create a new, yet-unnamed energy corporation.
The two LDCs and their municipal shareholders—which include the cities of Brantford and Cambridge, plus the Township of North Dumfries—are now “positioned to submit an application for regulatory approval later this fall to the Ontario Energy Board”.
“The energy industry landscape continues to evolve at a fast pace,” said Ian Miles, Cambridge & North Dumfries Energy Plus Inc. president & CEO. “This proposed merger is an opportunity for a stronger utility to realize greater efficiencies, and additional capacity to evaluate new technologies and services for customers while continuing to be owned by and benefit the municipal shareholders.”
A centralized website, EnergizingOurFuture.ca, is available for utility customers to stay informed as the application makes its way through the OEB regulatory approval process.
Should the merger be approved, the new company will be 100% municipally-owned (Cambridge 54.3%, Brantford 41%, North Dumfries 4.7%). A merger would only occur following OEB approval, expected in 2022.
“Together, we are committed to continuing to operate at the highest level of service, and expect to be better positioned to explore innovative solutions for the benefit of our customers and communities,” added Paul Kwasnik, CEO & president of Brantford Energy Corp.
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