Kitchener-Wilmot Hydro Inc. and Waterloo North Hydro merge

Waterloo Region hydro companies merge From CTV Kitchener: Kitchener-Wilmot Hydro and Waterloo North Hydro have merged into Enova Power.

The merger of two Waterloo region hydro companies is complete.

On Sept. 8, Kitchener-Wilmot Hydro Inc. and Waterloo North Hydro Inc. completed the merger, and the new hydro company will be known as Enova Power Corp.

“Enova Power brings over 100 years of experience in energy and as a strong community partner, and we are carrying that forward with us. Our commitment to helping customers achieve their energy goals today and into the future is what drives our pursuit of improved service for the communities we serve,” said Rosa Lupo, board chair of Enova Energy Corporation in a media release.

Enova Power Corp. will begin operations on Sept. 12.

Rene Gatien, former President and CEO of Waterloo North Hydro Inc., and Jerry Van Ooteghem, former President and CEO of Kitchener-Wilmot Hydro Inc., have been appointed Co-CEOs of Enova Power.

"We will continued to provide the great service that we've done so over the last 100 years, that won't change," said Van Ooteghem. "We've talked about the continuous improvement and we will continue to do that. We will have larger teams that will be able to support consumers better. We have more bench strength we can use."

According to Enova Energy Corporation, it is owned by the City of Kitchener with a 53.4 per cent share, the City of Waterloo with 30.8 per cent, the Township of Woolwich with 8.5 per cent, the Township of Wilmot at 4.5 per cent, and the Township of Wellesley with a 2.8 per cent share.

“Enova Power is the company our customers rely on. We have some of the smartest people ready to use their collective knowledge and experience to drive what’s next in energy for our communities and beyond. We are excited to get started,” said Steve McCartney, board chair of Enova Power Corp.

The new hydro company is the seventh largest electricity distribution company in the province by customer count, providing energy solutions to over 157,000 residential and business customers in the City of Kitchener, the City of Waterloo, Township of Woolwich, Township of Wilmot, and Township of Wellesley, according to the media release.