The Ontario Energy Board has approved the merger between Guelph Hydro and Alectra.
The deal gives the City of Guelph 4.63 per cent ownership in the utilities company.
They’ll also have a permanent seat on the Board of Directors.
Guelph Hydro’s currently location will be Alectra’s operations hub for southwestern Ontario and will become the company’s Green Energy & Technology Centre.
The OEB says they’re satisfied customers won’t be affected service changes or increased rates.
At least 70 jobs will be affected by the merger.
The company says about half will be offered jobs elsewhere.
The other cuts will be addressed through retirement, attrition and voluntary departures.
The OEB says the city is expected to receive higher annual dividends which could be used as an investment into local infrastructure, programs and services.
