Kitchener Power, an electricity distribution company, agreed to merge with Waterloo North Hydro, an electric utility company, in a $400m deal. “By combining with Kitchener-Wilmot Hydro, our board believes this is a good deal for Waterloo North Hydro customers and our shareholders in Waterloo, Woolwich, and Wellesley. Ontario’s electricity sector is changing quickly and this proposed merger is a local solution that will help our communities adapt to these changes and thrive in the years ahead. This larger, locally-owned utility will have more resources to invest in technologies that benefit customers while helping our communities’ transition to a lower carbon economy," David Petras, Waterloo North Chairman.