The Collingwood Council is continuing discussions with EPCOR about their due diligence for the possible purchase of the Town’s interest in Collingwood PowerStream Utility Services Corp. EPCOR has submitted an offer on Collingwood’s remaining interest in the Corporation, and also proposed a services arrangement to operate the Town’s water and waste system under the Town’s continued ownership.
EPCOR’s proposal focuses on managing the system and financing any water and waste water infrastructure renewal that may be required. Under EPCOR’s proposal, Collingwood Council would continue to set water and waste water rates and establish system performance measures including water and customer service quality. EPCOR has many similar arrangements in place to operate municipal water systems in western Canada and the United States.
The Town’s RFP process solicited proposals from a wide range of potentially interested parties that could maximize the value of the Town’s remaining investment in Collingwood PowerStream Utility Services Corp. The Town says it has limited options regarding how to monetize its remaining 50% investment in the local electricity distribution company.
The Town plans to hold a public information session once more information is available, in order to provide more details about the EPCOR proposal and seek public input. Mayor Cooper says, “Public input is very important to Council, and once the Town and EPCOR complete further discussion and due diligence, public consultation will commence.”