Examples of Orillia Power in a sentence
In September 2016, Hydro One filed an application with the OEB to acquire Orillia Power, which was denied by the OEB on April 12, 2018.
On September 26, 2018, Hydro One filed a new application with the OEB for approval to acquire Orillia Power.
In 2016, Hydro One filed an application with the OEB to acquire Orillia Power, which was denied by the OEB in April 2018.
In September 2018, Hydro One filed a new application with the OEB for approval to acquire Orillia Power.
Orillia Power contributed revenues of $15 million and net income of $nil to the Company’s consolidated financial results for the year ended December 31, 2020.
In August 2016, the Company reached an agreement to acquire Orillia Power Distribution Corporation (Orillia Power), an electricity distribution company located in Simcoe County, Ontario, from the City of Orillia for approximately $41 million, including the assumption of approximately $15 million in outstanding indebtedness and regulatory liabilities, subject to closing adjustments and regulatory approval by the OEB.
Orillia Power Corporation is a wholly-owned subsidiary corporation of the Municipality and is accounted for on a modified equity basis, consistent with the Canadian generally accepted accounting treatment for government enterprises.
In September 2020, Hydro One repaid the $20 million of short-term debt assumed as part of the Orillia Power acquisition.The goodwill estimate of $15 million arising from the Orillia Power acquisition consists largely of the synergies and economies of scale expected from combining the operations of Hydro One and Orillia Power.
The following table provides condensed supplementary financial information of Orillia Power Corporation.
The following summarizes the Municipality’s related party transactions with Orillia Power Corporation during the year.