Two northwestern Ontario Hydro companies are about to become one.
Thunder Bay and Kenora Councils have both approved the merger of the two utilities.
Dave Sinclair is the President and CEO of Kenora Hydro and says he’s not sure when the move will actually be completed.
Sinclair says the merger still has to be approved by the Ontario Energy Board.
He notes they will file the necessary paperwork within the next two months, with a minimum four month wait to hear back from the OEB.
Officials claim merging the two companies will benefit customers by ensuring lower electricity rates.
The City of Thunder Bay would own just under 91% of the merged company, while the City of Kenora would own around 9%.
The name for the merged company hasn’t been decided yet.