Approval to purchase Orillia Power Distribution Corporation

Hydro One Inc.
EB-2016-0276

Hydro One Inc., the owner of Hydro One Networks Inc. has applied to the Ontario Energy Board for approval to purchase all of the shares of Orillia Power Distribution Corporation for $41.3 million, consisting of a cash payment of $26.4 million and the assumption of Orillia Power Distribution Corporation’s $14.9 million debt. Hydro One Inc. says that ratepayers will not pay the transaction costs and premium for this purchase and that the rates for the customers of Hydro One Networks Inc. and Orillia Power Distribution Corporation will remain separate until 2027. 

As part of this purchase, Orillia Power Distribution Corporation is asking for approval for: 

(a) A one percent reduction in its 2016 electricity distribution rates until 2022 
(b) Transfer of its distribution system to Hydro One Networks Inc. 
(c) Transfer of its rate order to Hydro One Networks Inc. 
(d) Cancellation of its electricity distribution licence, after the transfer of the distribution system is completed. 

Hydro One Networks Inc. is requesting that its electricity distribution licence be amended, authorizing it to serve Orillia Power Distribution Corporation’s customers.

Type
Approval to purchase Orillia Power Distribution Corporation
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Details and Updates

UPDATE - The application by Hydro One Inc. for approval to purchase Orillia Power Distribution Corporation will be held in abeyance until further notice. Read more.

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Or mail the below address with the reference number EB-2016-0276

Ontario Energy Board
P.O. Box 2319
2300 Yonge Street, 27th Floor
Toronto ON M4P 1E4
Attn: Ms. Kirsten Walli, Board Secretary