OTHERAWARDED

Tay Township Council Meeting Minutes March 2 2026

Alectra Inc. Awarded Historic Utility Acquisition Contract

$4,350,000 annual payments for 7 years; minimum payout of $110,000,000 plus variable payout at end of termTownship of TayALECTRA INCMarch 2, 2026

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Description

Tay Township and the Town of Newmarket awarded a historic contract to Alectra Inc. for the acquisition of Newmarket-Tay Power Distribution Ltd. and Tay Hydro Inc., with a first-in-Ontario deferred payment purchase structure. The agreement guarantees $4.35 million annual payments for 7 years, a minimum final payout of $110 million, optional extension to 13 years, and includes commitments on rates, jobs, and capital investment.

Contract Details

Contract Amount

$4,350,000 annual payments for 7 years; minimum payout of $110,000,000 plus variable payout at end of term

Vendor

ALECTRA INC

Agency

Township of Tay, Canada

Contract Type

OTHER

Document Date

March 2, 2026

Contract Term

7 years base term, with option for up to two additional 3-year periods (total possible: 13 years)

Renewal Date

2033-03-02

Renewal Info

At years 7, 10, and 13, municipalities can choose to exit and trigger payout; the 7-year base term is extendable for up to two further 3-year periods at shareholders’ discretion. Amendments to improve final terms were made after a Go-Shop process in Feb 2026.