I have been informed that Guelph Hydro is to be sold or absorbed by the former Hamilton Hydro.This to take place soon after the Oct. 10 election. I feel to shed this utility would be a error that would impact Guelph in a negitive way for many years to come for several reasons both economic and quality of community. DN
As the Shareholder Representative on the Guelph Hydro Board, I can ensure you that there are no discussions to sell Guelph Hydro Electric Systems Inc.
The Guelph Hydro Inc. Board of Directors has entered into a memorandum of understanding with Horizon Utility to explore a possible merger of the two entities. This would be a merger not a sale. The City of Guelph would continue to own its respective share of such a merged company as would Hamilton and St. Catherines.
Horizon is the company that was formed after the merger of the Hamilton and St. Catherines local electrical distribution companies.
The Guelph Hydro Inc. Board of Directors would not recommend the merger to Guelph City Council unless a clear business case could be made that a merger would benefit the Guelph customers. The merger would require the approval of Guelph, Hamilton and St. Catherine’s City Councils.
Regards,
Karen Farbridge
Mayor