News

Open house on topic of electrical utility sale

The City of Kelowna will host two open houses for City of Kelowna electrical utility customers and Kelowna residents to learn more about the Electrical Utility Restructuring Opportunity and what it means for them.

The two identical open houses will be held at the Fairfield Inn & Suites by Marriott at 1655 Powick Rd. tonight (Tuesday) and Thursday, Sept. 27, both from 4 to 6:30 p.m.

While a presentation will be given at 5 p.m. on both nights, the same information will be available at any time during the open houses.

Representatives of FortisBC and the City of Kelowna will be on hand to explain the restructuring deal that will see the city switch from being an electrical utility owner to an electrical utility investor.

City council has approved a plan to transfer its electrical utility assets to FortisBC for a negotiated sale price of $55 million, then using the proceeds to purchase, with the approval of the Inspector of Municipalities, common shares in Fortis Inc.

The proposed transfer of the City’s utility assets to FortisBC requires the approval of Kelowna’s electors; therefore, the City will seek elector approval using the alternative approval process, the terms of which are set out in British Columbia’s Community Charter. Voters have until Oct. 26 to register opposition to the proposal.

 

We encourage an open exchange of ideas on this story's topic, but we ask you to follow our guidelines for respecting community standards. Personal attacks, inappropriate language, and off-topic comments may be removed, and comment privileges revoked, per our Terms of Use. Please see our FAQ if you have questions or concerns about using Facebook to comment.

You might like ...

Knights 2nd, Owls 3rd at UBCO Heat tourney
 
Irish takes bite out of Bears
 
Tips for the Elk Valley Outdoor Enthusiasts
Tucker shows saddle savvy
 
Sub skip secures Anchor
 
Miller flying back into top form
Points North swims to second
 
Swimmers off to provincials
 
Speedway remembers at memorial day races

Community Events, October 2014

Add an Event

Read the latest eEdition

Browse the print edition page by page, including stories and ads.

Oct 17 edition online now. Browse the archives.