Orillia Mayor disappointed with acquisition denial
Mayor Steve Clarke expresses disappointment after the OEB won't hear OPDC takeover appeal
“Disappointing and unfortunate for the City of Orillia”.
That’s the quote for Mayor Steve Clarke after the City received notification that the Ontario Energy Board (OEB) will not hear an appeal on its decision to deny the proposed acquisition of the Orillia Power Distribution Corporation by Hydro One.
Clarke goes onto say the acquisition would’ve resulted in one of the largest ever investments in Orillia’s history; bringing much needed economic growth, jobs and development to our community.
City staff are reviewing the OEB’s decision.
OTHER FACTS:
- Negotiations between the City of Orillia and Hydro One formally started in September 2015
- A final deal was reached between the City and Hydro One in August 2016
- Submission to the OEB for approval took place in September 2016 and the denial of the application was received April 12th 2018
