It is no secret that Ontario faces some financial challenges.
Currently, Midhurst is served by Hydro One for electrical distribution but it appears that could change soon.
An interesting article in yesterday’s Toronto Star called: Private utility firm eyeing Hydro One in potential bid:
Hydro One’s distribution assets aren’t even formally on the market, but one of Canada’s major private utility companies is already a potential bidder.
“Absolutely,” said Karl Smith, chief financial officer of Fortis Inc., when asked if at his company would consider a bid for Hydro One assets — or those of other local utilities in the province.
The Ontario government has commissioned a look into selling off public assets.
A panel headed by TD Bank’s Ed Clark has urged the province to spin off Hydro One’s distribution assets, the part of the company that delivers electricity directly to 1.3 million homers and businesses, many in rural areas.
The panel also said it’s an opportunity to consolidate Ontario’s 70-plus local utilities into fewer, larger units, perhaps numbering a dozen or fewer. The panel hasn’t delivered a formal report, but Clark outlined its thinking in a speech on Friday.
Fortis agrees with that thrust, Smith said.
Mr. Smith states further:
“We’re the only remaining private investor in distribution utilities currently in Ontario, so we’ve been advocating for consolidation of the remaining distribution utilities for quite a while,” he said.
“We’re here in the province already; we consider this part of our service territory. This is something we’ve been looking forward to for quite a while.”