Brantford Power Inc. and Energy + Inc. have asked the Ontario Energy Board to approve:
- Leave for a new holding company (referred to as Amalco Holdco in the application) to acquire control of Brantford Energy Corporation (the parent company of Brantford Power Inc.) and Cambridge and North Dumfries Energy Plus Inc. (the parent company of Energy+ Inc.)
- The amalgamation of Brantford Power Inc. and Energy + Inc. to form a new electricity distribution company referred to in the application as LDC Amalco
- The issuance of an electricity distribution licence for LDC Amalco
- The cancellation of the electricity distribution licences of Brantford Power Inc. and Energy + Inc. when the electricity distribution licence for LDC Amalco is issued
- The transfer of the current and any future rate orders and rate riders of Brantford Power Inc. and Energy + Inc. to LDC Amalco
- The continued tracking of costs by LDC Amalco to existing deferral and variance accounts of Brantford Power Inc. and Energy + Inc.
- A deferral account to track certain grossed-up Payment in Lieu impacts as described in the application and to track any variances in a sub account in Account 1592 - Payment in Lieu and Tax Variances, for the Brantford service area only.
The applicants say that the proposed amalgamation is expected to deliver savings to the customers of both utilities and that the electricity distribution rates of Brantford Power Inc. and Energy + Inc. will remain separate for at least 10 years from the date the transaction is completed. The applicants also say that the costs of the proposed amalgamation will not be funded by ratepayers.