Niagara Power Inc. is the holding company of the four Grimsby utility subsidiaries, whose mandate is to report back to the Town of Grimsby, its only shareholder, on all issues related to the subsidiary companies.
Grimsby Power Incorporated
Grimsby Power Incorporated is structured to carry out all the regulatory requirements including capital and maintenance work on the plant infrastructure (poles, wires and underground equipment). It is also responsible for the local administration plus the billing and collection function that was previously done under the auspices of the former Grimsby Hydro-Electric Commission. As well, Grimsby Power Inc. is the provider of ‘default’ electricity to our customers. ‘Default’ simply means that if a customer does not sign an agreement for power with a retailer, Grimsby Power will continue to provide electricity to these customers at cost.
Grimsby Energy Incorporated
Grimsby Energy Incorporated is a services company which is responsible for exploring green energy and other business opportunities. Their assets are held by Niagara Power Inc.
Grimsby Hydro Incorporated
Grimsby Hydro Incorporated is the deregulated company that was set up as our retail affiliate. Originally, it was in the business of fibre optic telecommunications and related activities. Later, the fibre optic assets were sold for shares in a region-wide telecommunication business known as Niagara Regional Broadband Networks. Grimsby Hydro maintains a 25% equity ownership in this company along with three other utility partners.
Niagara West Transformation Corporation (NWTC) was structured to provide for the long-term power requirements of Grimsby and area customers. It is a joint venture with the neighboring utility, Peninsula West Power, so as to share costs and risks in guaranteeing customers' power requirements. It also assisted in avoiding potential conflicts with the OEB Affiliates Relationship Code. NWTC is becoming a model for other companies that require new transformer stations in the province and it is the first of its kind.
Niagara West Transformation Corporation is a working example of the foresight of our company’s and shareholders’ willingness to work together to provide economies of scale and scope for the mutual benefit of all.
