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Waterloo North Hydro and Kitchener-Wilmot Power aim to merge


October 18, 2021
By Anthony Capkun


October 18, 2021 – The municipal councils of Kitchener, Waterloo, Wellesley, Wilmot and Woolwich have approved a Memorandum of Understanding as a first step in the proposed merger of Kitchener-Wilmot Hydro and Waterloo North Hydro.

The approvals follow an earlier announcement that Kitchener Power Corp. and Waterloo North Hydro Holding Corp. are proposing a merger of Kitchener-Wilmot Hydro and Waterloo North Hydro.

The Ontario municipalities of Kitchener, Waterloo, Wellesley, Wilmot and Woolwich are the shareholders of the two holding corporations.

By combining operations, the proponents say they will create “a larger, local and publicly-owned power utility that will provide reliable service, invest in new technologies, generate cost savings through operational efficiencies and keep local jobs in our communities”.

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If approved by the five municipal councils and the Ontario Energy Board, the combined utilities would become the seventh-largest utility in Ontario (by number of customers).

The combined utility would have more resources to invest in new technologies, say the proponents, such as smart home and energy data, automated restoration of power outages, microgrids and local renewable generation.

Each municipality would receive proportional ownership in the combined utility and representation on a new board of directors.

Following community information and engagement initiatives, the five municipal councils are expected to make a final decision on the proposed merger in December. If approved, the merger application will be submitted to the Ontario Energy Board for regulatory approval, which is expected in the third quarter of 2022. The new company is expected to begin operations soon afterward.



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