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Fortis starts city electric utility buy process
FortisBC announced today that it has filed an application for a Certificate of Public Convenience and Necessity with the British Columbia Utilities Commission to purchase the City of Kelowna’s electric utility assets for $55 million.
Recently, the City of Kelowna received the approval of Kelowna’s electors through an alternative approval process, which took place from Sept. 26 to Oct. 26 and included two community open houses.
During that process, less than 0.1 per cent of electors chose to object to the sale of the electrical utility assets.
FortisBC has been operating the city’s utility since 2000 and city council felt the utility was well positioned to continue to meet local customers’ energy needs into the future.
The British Columbia Utilities Commission will establish a schedule for the regulatory process to be carried out.