An overview of the proposed three-way merger involving Enersource Corporation was presented to Mississauga City Council September 23.
The proposal would see Enersource Corporation merge with Horizon Utilities and PowerStream and the acquisition of the shares of Hydro One Brampton from the Province of Ontario. This proposed merger would create a single new publicly-owned company that would serve over 900,000 customers in the Greater Golden Horseshoe Area.
Ninety percent of Enersource Corporation is owned by the City of Mississauga, and 10 percent is owned by BPC Energy Corporation (Borealis), which is part of the Ontario Municipal Employees Retirement System (OMERS).
There will be opportunity for the public to make deputations by contacting the City Clerk’s Office prior to a final vote on the proposal which will take place at Council on September 30.
If Council’s decision is to proceed with the proposed merger it will be subject to approval by the Ontario Energy Board.
For more information on the merger proposal, please visit enersource.com/about-enersource/Pages/Merger-Proposal.aspx