Ontario Energy Board approves application by Town of Cochrane to acquire shares of Northern Ontario Wires Inc.



    TORONTO, Feb. 11 /CNW/ - Today, the Ontario Energy Board (the Board)
issued a Decision and Order approving an application by the Town of Cochrane
to acquire all outstanding shares of Northern Ontario Wires Inc.
    Upon completion of the proposed transaction, the town of Cochrane will be
the sole shareholder of Northern Ontario wires. Currently, the Town of
Cochrane holds 67% of the shares in Northern Ontario Wires and the Town of
Iroquois Falls owns the remaining 33%.
    In its Decision, the Board concluded the proposed acquisition will not
have an overall adverse effect in terms of the Board's objectives in the
Ontario Energy Board Act, 1998, 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, and works towards this vision through
regulatory processes that are effective, fair and transparent.
    For more information on the Board, please visit our website at
www.oeb.gov.on.ca or contact the Consumer Relations Centre at 416-314-2455 or
toll-free at 1-877-632-2727.

    Ce document est aussi disponible en français.





For further information:

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


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