PH26656 - Transferring the assets

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CA BWGPL LHC-TownBWG-Muni-PH26656

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Transferring the assets

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Source : Bradford West Gwillimbury Times
Media Type : Newspaper Article
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Community : Bradford West Gwillimbury
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Description : On Tuesday night, Bradford West Gwillimbury Council passed a series of By-laws, paving the way for the transfer of the Town's electrical assets, from the BWG Public Utilities Commission, to the new Barrie Hydro Distribution Inc. (formerly the Barrie PUC). The deal, which will eventually pay the municipality about $11 million, was finalized on Thursday. As a result of the transfer, the local Public Utilities Commission will be dissolved at 12:01 a.m. on October 30th. At that time, the Town's water system will become the responsibility of a Town department. The new Barrie Hydro Distribution Inc. includes distribution networks in Barrie, Bradford West Gwillimbury, Essa, New Tecumseth and Penetanguishene. The corporation, as part of the deal, will maintain the current office in Bradford, for at least 5 years from the date of purchase - and has pledged to maintain the current levels of service.

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