Westario Power could soon be sold to the ERTH Corporation who have intentions of making such an announcement and the Board’s recommendation to shareholders to approve the sale.
Chair of Westario Power, Luke Charbonneau in a release says they are confident this sale will benefit customers, employees and the communities served by making sure the utility can meet the demands of electrification, growth and climate change.
Walter Malcolm, Westario’s President and CEO says this won’t have any impact on Westario employees and there will be little change for customers.
“They’ll continue to receive their bills from Westario Power in the near future. The rates will remain consistent the only increase would be inflationary increases on an annual basis so no different from what you’d see from Westario Power in the future.” said Malcolm.
It’s expected the sale will be done by all parties after Westario shareholders approval in the coming few weeks with the closing of the transaction needing to be approved by the Ontario Energy Board.
The full change of hands isn’t expected to be complete until mid 2026.