Repayment Of Debt Will Not Affect Hydro Rates: CEO

Posted on Wednesday, November 29, 2017 07:28 AM

Thunder Bay Hydro isn't putting up a fight when it comes to repaying a debt to the city.   

CEO Robert Mace told city council the corporation is fully prepared to pay back the $1.4 million dollars the city is owed.

Mace explains the debt doesn't affect your utility rates, and dates back to Hydro's former water heater business that was sold years ago. 

He says the company has the liquidity to do so, after city staff suggested council demand repayment.