Approval to purchase Midland Power Utility Corporation

Newmarket-Tay Power Distribution Ltd.
EB-2017-0269

Newmarket-Tay Power Distribution Ltd. has applied to the Ontario Energy Board for approval to purchase all of the shares of Midland Power Utility Corporation for $27,663,911 plus $200,000 for transaction costs and expenses. Newmarket-Tay Power Distribution Ltd. and Midland Power Utility Corporation intend to amalgamate upon completion of the share purchase. The applicants say that the costs of the purchase will not be funded by ratepayers and that the rates for the customers of Newmarket-Tay Power Distribution Ltd. and Midland Power Utility Corporation will remain separate until 2027. As part of this application, the applicants are asking the Ontario Energy Board to approve:

(a) Transfer of Midland Power Utility Corporation’s distribution system to Newmarket-Tay Power Distribution Ltd.
(b) Transfer of Midland Power Utility Corporation’s rate order to Newmarket-Tay Power Distribution Ltd.
(c) Cancellation of Midland Power Utility Corporation’s electricity distribution licence
(d) Amendments to Newmarket-Tay Power Distribution Ltd.’s electricity distribution licence

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