Synergy North is predicting an increase in electricity usage right across northwestern Ontario.
The electrical utility currently operates in Kenora and Thunder Bay.
President and CEO Rene Gallant says the increase in electric vehicles and big projects are pushing the increase.
“Our plan over the next number of years will be based up being ready to respond to that growth in demand,” Gallant told Kenora City Council is his annual report.
“We know in Kenora there is a new hospital coming. We’re part of those discussions. That is going to be a very significant growth in demand here. We know what it’s going to take to do that.”
In his year-end report to Kenora city council, Gallant says they conducted about $625,000 worth of capital projects in the city in 2024.
“It was a very good financial year for the company. We re-invest the income we earned from the utility. And in fact, we have a shareholder’s agreement signed by both cities, and that agreement actually prohibits us from paying dividends.”
Gallant adds the payment of dividends is something Synergy North is examining right now.
