Another step towards a merger for two utilities in the region.
Thunder Bay city council has approved Thunder Bay Hydro’s proposed merger with Kenora Hydro, which has to be voted on Tuesday morning at 11 by Kenora’s council.
Thunder Bay Hydro CEO Robert Mace explains the new Thunder Bay-based utility would be more efficient and hopefully lower costs for customers.
“You have two utilities with two billing systems, two sets of financial systems, two regulatory systems,” Mace points out, “The savings will be generated primarily through the consolidation of administrative functions.”
He notes any savings through job loss would be primarily done through attrition.
The City of Thunder Bay would own just under 91 percent of the merged company, while the City of Kenora would own around nine percent.
The name for the merged company hasn’t been decided yet.(File Photo)