To protect confidentiality and sensitive business matters in a public/private business relationship, many discussions were forced in camera.
We have to be very clear that in our discussions with Epcor we were dealing with our (the Town of Collingwood’s) 50 percent share of Collus PowerStream.
We currently have a partnership agreement with Powerstream, now Alectra, and under the terms of that agreement we must be very careful about what we disclose publicly when it impacts the interests of our partnership.
The Municipality of Collingwood is one partner, and a private company, PowerStream, now Alectra, is the second partner in a 50/50 ownership.
For this reason, to protect confidentiality and sensitive business matters in a public/private business relationship, many discussions were forced in camera.
Similarly, negotiations between the Town of Collingwood and Epcor also require in camera sessions.
The discussion about selling should have happened when we owned 100 percent of Collus.
If we look at our neighbouring municipalities, Midland and Wasaga Beach, they both had large public input sessions when they were looking at selling all or a portion of their utilities. Midland sold and Wasaga Beach didn’t.
Unfortunately for the people of Collingwood, this was not the case in 2012.
After the first 50 percent of Collus was sold to PowerStream by the previous council, we were handed obligations to fulfil with our new partner and had to be very careful as to how we proceeded.
As far as the sale of the second half of Collus, PowerStream, now Alectra, had the ability to buy our 50 percent on the same terms as did Epcor.
They chose not to and Epcor became the successful bidder.
Throughout this entire process, I firmly believe PowerStream has been treated fairly and in accordance of our obligations under the partnership agreement.
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