Midland’s town council has made a decision on who will be buying the Power Utility Company (PUC).
In a press release, it confirmed that Newmarket-Tay Power Distribution Ltd. will purchase the PUC; they are a local distribution company owned by the Town of Newmarket and the Township of Tay. This is still pending finalized contracts.
Listed were some “key benefits” of the sale of the Midland PUC to the new purchaser:
“There will be no job loss from the sale of MPUC. Employees will have continued employment, benefits, and union representation into the future”
They will still operate out of the Hwy 12 location to ensure the local connection expected by Midlanders
“Customers will share in the value of the efficiencies and economies of scale that a larger organization like Newmarket-Tay can achieve. The sale includes electricity distribution rate stability essentially in line with the rate of inflation for a period of 10 years and consistent with Ontario Energy Board requirements. In addition, for year eleven onward Midland distribution ratepayers will further benefit from rate harmonization with Newmarket-Tay rates”