The proposed sale of Collus PowerStream to Epcor continues to work its way through the regulatory process.
“So I think we are getting there, the application is in process , is aggressively moving forward”
— Fareed Amin, CAO, Town of Collingwood
At the regular meeting of Collingwood Town Council on Monday June 11, 2018, CAO Fareed Amin stated that the application to the Ontario Energy Board is in the final argument phase. Mr. Amin said the expectation is that a decision will hopefully be rendered by the end of July.
So I think we are getting there, the application is in process , is aggressively moving forward and as far as I’m aware given my knowledge of the process, the OEB is proceeding to the final argument stage. Once we see what the SEC and the OEB staff is requesting we will respond and then shortly thereafter we’re hoping that a decision will rendered. It’s all good news.”
At a Special Council Meeting on October 23, 2017, Collingwood Town Council agreed to sell its 50% stake in Collus PowerStream, the local distribution company, owned by the Town of Collingwood and Alectra (formerly PowerStream).
On November 10, 2017, the Town of Collingwood received confirmation that Alectra Utilities had decided to sell its stake in Collus PowerStream to the municipality.
If approved by the Ontario Energy Board, EPCOR will become the sole owner, purchasing 100% of the utility from the Town.
CLICK HERE to Return To News Headlines