The Ontario Energy Board has approved the sale of the Midland Power Utility Corporation (MPUC) to the Newmarket-Tay Power Distribution Ltd.
The OEB officially gave the green light to the sale on Aug. 23, roughly one year after the deal was agreed upon.
“The OEB has applied the no harm test in assessing this application, and has concluded that the proposed transaction meets that test. The OEB therefore approves the proposed transaction,” stated the decision.
“The OEB also approves certain of the additional requests made by the application as described in this decision.”
The Town of Midland put conditions on the sale to ensure quality and prevent huge rate hikes, among other things.
“(The agreement) provides the people of…