The Fort Frances Power Corp. stated Monday that if the hydroelectric assets here are sold down the road, it will fight to make sure all rights and obligations of the historic mill power agreement are properly transferred and that the terms will remain unchanged.
A public notice from FFPC board chair Doug McCaig stated: “As the custodian of the historic mill power agreement, currently held between ACH Limited Partnership and the Town of Fort Frances, the Fort Frances Power Corp. would like to inform all residents of the Town of Fort Frances in regards to the proposed sale of hydroelectric generation assets to Brookfield Asset Management Inc.
“In the event that Brookfield Asset Management Inc. reaches a final agreement with AbitibiBowater Inc. to purchase the assets of ACH Limited Partnership, both parties are required to seek approval for licence amendments with the Ontario Energy Board.
“The licence amendment process is a public process that allows for stakeholders to join the proceeding and be granted ‘intervener’ status.
“As per previous changes in ownership, the Fort Frances Power Corp. is prepared to step forward as a stakeholder to ensure that all rights and obligations of the historic mill power agreement are properly transferred and that the terms of the agreement will remain unchanged.”