The Ontario Energy Board has approved the merger of two northwestern Ontario hydro companies.
Kenora and Thunder Bay Hydro will soon be one corporation and Thunder Bay CEO Robert Mace says they’re aiming for January.
The new company will also have a new name which is expected to be unveiled in early 2019.
Mace tells us Kenora Hydro CEO Dave Sinclair will be retiring once the merger is complete.
Mace adds the whole intent of the merger is to create efficiencies. He explains “down the road, when the OEB establishes new rates, it’s very likely customers will see lower rates than they otherwise would have. ”
The Thunder Bay Hydro CEO notes no jobs will be lost as the operation centres will be kept open in both Kenora and Thunder Bay.
He explains if any savings are found it will be through attrition and not cutting positions.