Alectra Inc. has applied to acquire control of Newmarket Hydro Holdings Inc. and amalgamate Newmarket-Tay Power Distribution Ltd., Newmarket Hydro Holdings Inc., and Tay Hydro Inc.

November 11, 2026

Alectra Inc. (Alectra) has applied to the Ontario Energy Board (OEB) for approval of the first phase (Phase 1) of a two-phase transaction involving Newmarket Hydro Holdings Inc. (Newmarket Hydro Holdings), Tay Hydro Inc. (Tay Hydro), and NewmarketTay Power Distribution Ltd. (Newmarket-Tay Power). Alectra is the parent company of Alectra Utilities Corporation, an OEBlicensed electricity distributor.

As part of Phase 1, Alectra would acquire control of Newmarket Hydro Holdings and subsequently amalgamate Newmarket Hydro Holdings, Tay Hydro, and Newmarket-Tay Power. The amalgamated company would continue to operate as a wholly owned subsidiary of Alectra under the name Newmarket-Tay Power Distribution Ltd.

Newmarket Hydro Holdings and Tay Hydro are holding companies that own 93% and 7%, respectively, of the issued and outstanding common shares of Newmarket-Tay Power, an OEB-licensed electricity distributor. Following completion of Phase 1, Newmarket-Tay Power would continue to operate as a stand-alone electricity distributor under the same name.

Alectra submits that the incremental one-time transaction and transition costs associated with the proposed Phase-1 transaction will not be funded by ratepayers.

At some future time, following the Phase 1 transaction, Alectra Utilities Corporation and Newmarket-Tay Power will file a Phase 2 application seeking leave to amalgamate and continue as operating as Alectra Utilities Corporation.