THUNDER BAY, Ont. – Thunder Bay Hydro Electricity Distribution Inc. and Kenora Hydro Electric Corp. Ltd. have signed an agreement to explore a potential merger.
Kenora Hydro CEO Dave Sinclair says the utilities based in northwestern Ontario have a history of working together in areas such conservation, back office support and the acquisition of smart meter technology.
The companies have started the process of analyzing how customers, municipal shareholders and other stakeholders might benefit from a merger.
Both said any deal will require the approval by the City of Kenora and the City of Thunder Bay, who are the municipal shareholders of each company.
Thunder Bay Hydro has 130 employees who service electrical distribution to over 50,000 customers in its area, while Kenora Hydro has 14 employees who service 5,600 customers.
