City of Cambridge, Township of North Dumfries to evaluate potential hydro merger

Councils for the City of Cambridge and the Township of North Dumfries will review a Terms of Reference during a special joint meeting next week (October 7) and appoint a Shareholders Strategic Advisory Committee to evaluate the potential benefits of a possible merger between Energy +Inc. with Brantford Power Inc.

The shares of Energy+ Inc. are jointly owned by the City of Cambridge (92.1%) and the Township of North Dumfries (7.9%).  The new committee with be comprised of members of the Councils of both the Township of North Dumfries and the City of Cambridge.

Under the proposed Terms of Reference, the Committee will explore the opportunity and provide recommendations to the Councils. The committee will fully review how a potential merger could impact customers, the City and Township, and the communities.

The provincial government has encouraged the consolidation of local electricity distribution companies in Ontario with the objectives of increased industry efficiencies, reductions of costs, and securing competitive distribution rates for customers.

The evaluation process will include a public consultation process. A potential agreement would have to be sanctioned by the Ontario Energy Board.

The proposed Terms of Reference will be posted online in the Council agenda package.  

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Fast Facts

• The Board of Directors of Energy+ and Brantford Power are exploring a possible merger to streamline their resources to reduce duplication and manage costs.
• The City of Cambridge is the primary shareholder (92.1%) of Energy+, and the Township of North Dumfries has a 7.9% share.
• The Shareholder Strategic Advisory Committee will be formed to represent the interests of both municipalities, evaluate the benefits, and make recommendations during the process.
• The Committee will review the potential impacts on shareholders and ratepayers. It will consider a variety of items, including potential governance, organizational/shareholder structure, annual dividends, service standards, and distribution rates.
• The Committee’s goal is to ensure residents in both communities continue to receive the excellent electricity service and reliability they have come to expect.

Primary media contacts

Susanne Hiller
Director of Communications
City of Cambridge
hillers@cambridge.ca

Andrew McNeely,
Chief Administrative Officer
Township of North Dumfries
amcneely@northdumfries.ca