ATCO to streamline utility plants
- ATCO Ltd. is consolidating its generation assets under one subsidiary to streamline ownership structure and cut administrative costs, the energy, utilities and structures said recently.
The company's board of directors approved the transfer of ATCO's wholly owned subsidiary ATCO Resources to ATCO Power, a wholly owned subsidiary of Canadian Utilities Limited.
Both subsidiaries have interests in a total of 10 generation plants in Canada, with ATCO Resources valued at $82.5 million, net of existing debt.
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Summer traditionally is a peak period for electricity usage because of folks' need to run fans and air-conditioners to cool their homes or run that pool pump. But the arrival of the coronavirus and people working from home is adding to amount of power people are using.
Under normal conditions, those who work in their employer's offices might not be cooling their homes as much during the middle of the day or using as…
