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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.
Mon, June 20th, 6 to 8 p.m., Garnet B. Rickard Recreation Complex – South Hall
Thurs, June 23rd, 6 to 8 p.m., Quinte Sports and Wellness Centre – Fireplace Meeting Room
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
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.
Yes. Just like everyone in this process, we want to have open and transparent dialogue. We notified the unions at the same time that we notified the employees and the general public.
Yes, each of the utilities have already held at minimum one open house in their communities. This was the first step in our consultation and we plan to hold more open houses where your feedback can be gathered. We will be uploading upcoming events on to our microsites so that you are aware early on when open houses are scheduled.
Consultation is critical to the entire process- consultation with residents, politicians and employees. All of the feedback gathered will be taken into consideration and ultimately, will only proceed if we can demonstrate benefits to all our stakeholders. There are avenues today for Oshawa residents to learn more, ask questions and express their views. Those avenues include open houses, dedicated microsites, questions to local councillors etc.
The MOU has already been posted. Communications is central to this process and we want to be as open and transparent as we can be with our customers. A copy of the MOU can be found here: http://bit.ly/2aPXOWQ
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.
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