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ARTICLE · 15 DECEMBER 2016

OEB Grants Approval For Creation Of Ontario's Second-Largest Electricity Distributor

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The Ontario Energy Board has issued a decision approving an application by Enersource Hydro Mississauga Inc., Horizon Utilities Corporation and PowerStream Inc. for approval to merge...

CanadaEnergy and Natural Resources
Fred Cass
Fred Cass
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The Ontario Energy Board has issued a decision approving an application by Enersource Hydro Mississauga Inc., Horizon Utilities Corporation and PowerStream Inc. for approval to merge, and for the merged entity, "LDC Co," to purchase and merge with Hydro One Brampton Networks Inc.

As noted in the decision, the merger application was the first transaction considered by the OEB that involved multiple entities coming together, and it was also the first merger application involving electricity distributors since the release of the OEB's Handbook to Electricity Distributor and Transmitter Consolidations on January 19, 2016. The OEB considered the specific facts of the application and it came to the view that the features of the proposed transaction were anticipated within the framework of the OEB's policy and the outcomes of the transaction are aligned with the policy objective of improving the efficiency of electricity distribution.

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