Guelph Hydro Electric Systems Inc. and Alectra Utilities Corp. completed their merger to form an electric distribution utility that serves more than 1 million homes and businesses in Ontario's Greater Golden Horseshoe area.
The combined company will retain the Alectra Inc. subsidiary's corporate name, but will be co-branded as Guelph Hydro and Alectra Utilities in Guelph and Rockwood, Ontario, for a period of time.
As part of the deal the city of Guelph will receive an estimated 4.63% ownership interest in Alectra Utilities and one seat on its board of directors. Jane Armstrong, Guelph Hydro's board chair since 2016, will join Alectra's board in early 2019, according to a Jan. 2 news release announcing the merger's completion.
The transaction was approved by the Guelph City Council in December 2017 and by the the Ontario Energy Board in October 2018, allowing Alectra Inc. to acquire Guelph Hydro Electric from Guelph Municipal Holdings Inc.
Alectra itself was formed in early 2017 by the combination of three large municipal utilities serving areas north and west of Toronto. It expanded a month later with the addition of a fourth municipal utility.