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POLL: Woodstock Hydro For Sale?

Tuesday, 15 October 2013 14:01

City Council discuss possible sale of Woodstock Hydro to Hydro One

Woodstock City Council is taking a close look at the future of Woodstock Hydro.

The City has announced it is having exclusive discussions with Hydro One about a possible sale of Woodstock Hydro.

Council began having that discussion 3-months ago behind closed doors, and Woodstock Hydro staff were notified of the possibility of the move yesterday.

But Woodstock Mayor Pat Sobeski says those workers should not fear losing their jobs.  "The employment security of the employees is important, reliability of the service is important, the rate structures are important, and continuing to have a local presence is important.  All this is a part of the process."

Sobeski says there's been an ongoing consolidation of power authorities across the province, and this is another step in that direction.  "Council's been monitoring the industry, what's been taking place in the LDC's across the province.  We thought the timing was right to explore various options.  As a result, council thought let's do the responsible thing and get more information on what a company like Hydro One could offer to the citizens of Woodstock."

Hydro One will be taking a look at Woodstock Hydro's operations over the next few months, and will then make an offer to the city, likely in the spring.

{POLL_1}

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