The Regulatory Authority is inviting comments through May 4, 2020 from the public on the proposed change of control of utility Belco.
Algonquin Power and Utilities Corporation, a Canadian group, has agreed to acquire Ascendant Group Ltd, parent company of Belco, in a deal worth more than $360 million. Ascendant’s board and shareholders have approved the takeover, which is now awaiting approval from the RA, the regulator that oversees the electricity and telecommunications sectors.