← Back to Homepage
Potential Merger
Information Hub
Sign up for updates

Enter your email address in the form below to sign up for alerts when this website gets updated with new information.

Overview

Veridian Corporation has entered into a Memorandum of Understanding to explore the potential benefits of joining three electric utility and energy companies to achieve greater shareholder value and optimize services and value for our customers.

The proposed consolidation includes three municipally-owned energy companies, namely Veridian Corporation, Oshawa Power and Utilities Corporation, and Whitby Hydro Energy Corporation. The review of the potential consolidation opportunity will include Veridian Connections Inc.: a wholly owned business subsidiary that distributes electricity to more than 119,000 customers.  

Together we would form the 4th largest municipally owned electricity utility in Ontario after the GTHA west merger, with more than 220,000 (TBC) customers in a growing area of the province.

This proposed consolidation would enable us to assure greater resilience and sustainability of our electricity distribution systems for the future, while achieving new synergies to benefit both our municipal shareholders and the residents and businesses we serve.

The consolidation would allow greater scale and an increased ability to provide customers with new innovative solutions to their energy needs in the future.

This proposed consolidation would allow us to find new efficiencies while leveraging the professionalism and talents of our dedicated employees.

Community Meetings

Clarington

Mon, June 20th, 6 to 8 p.m., Garnet B. Rickard Recreation Complex – South Hall

Belleville

Thurs, June 23rd, 6 to 8 p.m., Quinte Sports and Wellness Centre – Fireplace Meeting Room

Ajax/Pickering

Wed, June 29th, 6 to 8 p.m., St. Francis Centre

In case you missed it, please find all the information presented at our open house here

Frequently Asked Questions
You have questions. We have answers. We've answered some of the most frequently asked questions below. Is there something you'd like to know that isn't on this list? We'd like to hear from you. Click here to have your say and ask us a question or share your thought.

Note: Our team is sorting through all of your questions and comments that you provided at our open house.  We want to ensure our answers are factual and informative so we ask for your patience as we work to get this site updated as soon as possible. Thank you for visiting.

Latest Questions

What about the money spent on the merger review?

Business Expenses incurred to evaluate the potential merger have been fairly shared amongst the three parties and paid from retained corporate earnings. These business expenses have no impact on customer rates or planned shareholder dividends.

Why did Oshawa PUC withdraw specifically?

Each entity has to review and evaluate on what is best for their respective customers, shareholders and overall businesses. The evaluation process was meant to review all these elements before any formal agreement to merge was made. The review process did exactly what it was intended to do, to ensure all parties could deliver synergies to customers. For Oshawa PUC, the benefits did not align with those objectives and they choose to amicably withdraw. This type of outcome is not uncommon in merger reviews.

Where can I get an update on the proposed merger of utilities in Durham Region. As mentioned in the memorandum of understanding it was hoped that a merger agreement would be entered into by December 31, 2016. Could you please advise where the process stands?

Like any merger, we need a full 360 degree view of all factors before we can move to the next step. We are currently in the final stages of assessment and will be able to provide more details shortly. Movement of the timeline by small margins is expected when there are considerable elements to be fully weighed and considered. We look forward to the next steps and remain committed to all aspects of community engagement including seeking feedback from all shareholders. All three companies involved remain optimistic about our ability to deliver synergies through our consolidation, to the benefit of our ratepayers.

Does this mean that Veridian and Whitby could also withdraw?

For now, both are committed to continuing in the process. Both Veridian and Whitby see significant merits in the proposed merger. Our focus is on our customers and ensuring we can deliver savings through greater efficiencies and innovation. We further have confidence in the competitive strength that could be found in the combined company, due to the larger scale.

Memorandum of Understanding
Download the Memorandum of Understanding
Click the button below to download the Memorandum of Understanding (PDF).
Download PDF
Latest News
Letter to the Editor: In defence of a possible merger
May 25, 2016
As the Chief Executive Officer of Oshawa Power and Utilities Corporation (OPUC), one of the three parties involved in the potential merger of Veridian, OPUC and Whitby Hydro, I wish to provide clarity and facts to address the recent editorial entitled “OPUC process far from clear” and the subsequent article, “Group pushes for referendum on any OPUC decision.”
Continue Reading
Veridian Corporation, Oshawa Power and Utilities Corporation and Whitby Hydro Energy Corporation to Explore Benefits of Consolidation
April 28, 2016
(April 28, 2016) Today, a Memorandum of Understanding (MOU) was signed by the parent companies of three local distribution companies, Veridian Corporation (Veridian), Oshawa Power and Utilities Corporation (OPUC) and Whitby Hydro Energy Corporation (WHEC), to explore the potential benefits and feasibility of a merger.
Continue Reading
Have Your Say
We want to hear from you. Tell us what you think. Your feedback matters and will guide us in this process to serve you better. Please send us your question and we will reflect all questions when we update on FAQ section

Thank you for your comment/question. We are reviewing your question and will update the FAQ section of our website shortly. We'll do our best to reply to you directly in a timely manner.

Oops! Something went wrong while submitting the form

Get In Touch
Stay connected with Veridian online and in social media. Use the links below to connect with us.