Markham Council Approves PowerStream Merger
At a Special Markham Council meeting on November 19, 2015, the City of Markham approved the merger of PowerStream with Enersource and Horizon Utilities and the purchase of Hydro One Brampton.
The proposed company will provide service to over 900,000 customers in the Greater Golden Horseshoe Area including York Region, Simcoe County, Peel Region, Hamilton and St. Catharines. Based on the number of customers served, the merged entity will be the second largest municipally-owned electric utility in Ontario and fifth largest in Canada.
Although Markham Council and the other municipal shareholders have approved the merger, the proposed merger still requires regulatory approval by the Ontario Energy Board.