Competition Bureau does not oppose Hydro One's acquisition of Great Lakes Power
July 8, 2016 — OTTAWA, ON — Competition Bureau
The Competition Bureau is satisfied that Hydro One’s proposed acquisition of Great Lakes Power Transmission is unlikely to result in a substantial lessening or prevention of competition.
The Bureau’s conclusion rests on the fact that the parties operate transmission assets that are physically connected to different customer locations and facilities, and therefore are not competing against each other for the provision of transmission services.
Under the Competition Act, the Bureau has a mandate to review mergers to determine whether they are likely to result in a substantial lessening or prevention of competition.
The proposed acquisition is also subject to approval by the Ontario Energy Board.
- The proposed transaction will result in Hydro One acquiring transmission assets comprising 15 stations, 560 km of power lines, and associated infrastructure over an area of 12,000 km2 along the shore of Lake Superior, north and east of Sault Ste. Marie, Ontario.
- Electricity transmission rates in Ontario are regulated by the Ontario Energy Board.
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