The Town of Collingwood has received confirmation that Alectra Utilities has decided to sell their stake in Collus PowerStream to the municipality. EPCOR will become the sole owner, purchasing 100% of the utility from the Town.
An application will now be made to the Ontario Energy Board to approve the transaction. This process could take anywhere from three months up to one year.
A Public Information Session will be held in the next few weeks to provide further details of the agreement. Representatives from EPCOR will make a presentation, sharing their objectives and vision for the company and its ratepayers. Residents are assured that electricity distribution rates are set, and will continue to be set by the Ontario Energy Board.
For more information on the hydro sale process, or to view the full presentation given at the Special Council meeting, please visit our website at www.collingwood.ca/Hydro.
Photo Credit: Collus PowerStream via Twitter