Talks are underway between local utility companies in the northeast to buy and expand operations.
"We are very excited by the opportunity to create a Northern Partnership with Espanola and Sables-Spanish Rivers that will enhance future sustainability for our communities." said North Bay Hydro President and Chief Operating Officer Matt Payne.
North Bay Hydro has been given the go ahead to proceed with the next step in buying Espanola and Sables-Spanish Rivers’ Hydro.
"We see great value in partnerships with the communities of Espanola and Sables-Spanish Rivers, and North Bay Hydro Distribution Limited is very excited to move forward in this process." said Payne.
The focus of the partnership for the towns of Sables-Spanish Rivers and Espanola is to ensure affordable, reliable and sustainable electricity for both communities.
"This sale ensures the infrastructure upgrades which are required to ensure the long term dependability and reliability of our service will continue, while minimizing the impact on our distribution rates. We are confident that North Bay Hydro will bring value to the community in terms of distribution rates and customer service." said Espanola Mayor Ron Piche.
Close to 3,300 customers are serviced by Espanola Regional Hydro, currently co-owned by the two towns.
