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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.
The MOU, which is posted on this site, outlines the processes and that timing. Details of public session will be posted on the website and through other means.
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 are now scheduling our next round for the fall 2016. We will be uploading our microsites so that you are aware early on when open houses are scheduled.
We specifically selected this format because our experience has shown us that people are more interactive and engaged when there is one-on-one interaction. During the course of our 1st open house, we were able to have one-on-one discussions with members of our community that we might otherwise not have been able to do in a different setting. We were able to hear their comments and questions and provide the best information that we had available. Should anyone in our community feel that their voices were not heard, we would be more than happy to hold a one-on-one meeting with you and our experts to ensure your questions are addressed. We know that once we have more concrete information available, this format will be much more valuable and helpful to you.
Please utilize this website to convey your concerns, questions or comments and we will be sure to address it. As the process unfolds, there will be a more formal feedback process in place. Until then, this website can accept your questions. Our social media platforms are another avenue to express your thoughts to us.
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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