Ontario’s largest electricity transmission and distribution provider Hydro One Limited announced its acquisition of Orillia Power Distribution Corporation. The Ontario Energy Board approved the sale on April 30, 2020.
As a result, Orillia Power customers will receive a 1 percent rate reduction to the base distribution portion of their bills starting in September. The base distribution portion of the bill will be frozen at this rate for the next five years.
Additionally, Hydro One stated it plans to invest in the local community by building a new provincial warehouse and regional operations center. Hydro One will be an active community partner through its support of local initiatives, said the company.
Orillia Mayor Steve Clarke commented, “Hydro One’s continued investment in our community and their proven philanthropic spirit will serve our community well now and into the future.”
“Thanks to the dedication of the City of Orillia, this exciting time not only demonstrates a strong commitment to the community but will enhance service quality while reducing distribution charges for its customers over the next few years,” said Jill Dunlop, MPP for Simcoe North. “This acquisition is instrumental in job creation and will bring tremendous growth and new investment to the City of Orillia, a win-win-win for the community, the local business sector and industry in our area.”
Orillia Power serves approximately 14,000 customers.