This merger is important not only for the energy sector, but more importantly, for residents and consumers, Mayor Bonnie Crombie said today during a signing ceremony in that will establish Ontario’s second largest local electric distribution company.
MergeCo is the temporary name for the new utility company that will service Mississauga ratepayers. Its head office will be in Mississauga. Enersource Corporation, Horizon Utilities Corporation and PowerStream Inc. are looking to merge and jointly purchase Hydro One Brampton Networks Inc. from the Ontario Government, with a service territory of approximately 1,800 km.
“This new utility company will provide the residents of Mississauga with cost savings, new efficiencies, and improved customer service, along with safer, reliable and clean electricity,” Mayor Bonnie Crombie said. “It’s a smart merger that’s in line with the Ontario government’s commitment to improve energy delivery and cost savings for consumers,” Mayor Bonnie Crombie added.