OEB Issues Decision and Order on Orangeville Hydro Limited and Grand Valley Energy Inc. Amalgamation



    TORONTO, July 14 /CNW/ - Today the Ontario Energy Board issued a Decision
and Order granting Orangeville Hydro Limited (Orangeville) and Grand Valley
Energy Inc. (Grand Valley) leave to amalgamate as well as to cancel Grand
Valley's distribution licence and to amend Orangeville's distribution licence
to include the area currently served by Grand Valley in its distribution
licence.
    Orangeville currently owns, operates and manages assets associated with
distributing electricity in the geographic territory and municipal boundaries
of the Town of Orangeville, and Grand Valley within the geographic territory
and municipal boundaries of the Township of East Luther Grand Valley. Upon
completion of the transaction, the Town of Orangeville will hold 94.5% of the
shares of the amalgamated utility and East Luther Grand Valley will hold 5.5%.
    In making its Decision, the Board was guided by a previous ruling in
which it determined the no harm test is the relevant test for the purposes of
applications for leave to acquire shares or to amalgamate.
    Based on the evidence provided in the proceeding, the Board concluded the
proposed amalgamation will not have an adverse effect in terms of section 1 of
the Ontario Energy Board Act which are:

    
    -   To protect the interests of consumers with respect to prices and the
        adequacy, reliability and quality of electricity service; and
    -   To promote economic efficiency and cost effectiveness in the
        generation, transmission, distribution, sale and demand management of
        electricity and to facilitate the maintenance of a financially viable
        electricity industry.
    

    The Ontario Energy Board regulates the province's electricity and natural
gas sectors in the public interest. It envisions a viable and efficient energy
sector with informed consumers served by responsive regulatory processes that
are effective, fair and transparent.

    For more information on the Board, please visit our Web site at
www.oeb.gov.on.ca or contact the Consumer Relations Centre at 416-314-2455 or
toll-free at 1-877-632-2727.





For further information:

For further information: Vanda Wall, Ontario Energy Board, (416)
440-8149


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