The City of Belleville says it plans to remain a majority shareholder in Elexicon Energy.
In light of a recent announcement from the municipalities of Ajax and Pickering regarding their decision to explore selling their shares in Elexicon Energy, Belleville, along with the municipalities of Whitby and Clarington, have confirmed their continued commitment as majority shareholders.
In a statement, the three municipalities say Elexicon Energy provides reliable and sustainable energy solutions for their communities while driving economic growth and fostering innovation.
As majority shareholders, the municipalities of Belleville, Whitby and Clarington say they recognize the critical role that Elexicon plays in their local economies and the essential services it provides to residents and businesses.
They add that protecting this public sector partnership and avoiding privatization ensures the majority stakeholder municipalities will continue to receive dividends that support key municipal initiatives and benefit taxpayers.