TORONTO, April 2 /CNW/ - Today the Ontario Energy Board issued a Decision
granting Greater Sudbury Hydro Inc. leave to amalgamate with West Nipissing
Energy Services Ltd.
Greater Sudbury Hydro Inc. serves customers in the City of Greater
Sudbury and the Township of Falconbridge. West Nipissing Energy Services Ltd.
serves customers in the former Town of Cache Bay and the former Town of
Sturgeon Falls, both now in the Municipality of West Nipissing.
Upon completion of the transaction, Greater Sudbury Hydro and West
Nipissing Energy Services will continue as one corporation.
In its Decision, the Board concluded, based on evidence submitted by the
Applicant, that the proposed transaction would not have an adverse effect in
terms of the statutory objectives of the Ontario Energy Board Act, 1998,
relating to mergers, acquisitions, amalgamations and divestitures. They 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 or the maintenance of a financially viable electricity
The Ontario Energy Board regulates the province's electricity and natural
gas sectors in the public interest. It envisions a healthy 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 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)