The recent merger of Ascent/St. Thomas Energy and Entegrus Powerlines appears to have done little to unplug the city from controversial business decisions previously undertaken by the utility.
As a case in point, on Monday (Oct. 15), the city was named in a multi-million dollar lawsuit.
The City of St. Thomas, Ascent Renewables, Ascent Group Inc, Ascent Energy Services and a numbered company, 2154310 Ontario Inc., are being sued for general damages in the amount of $7,850,000 by a numbered company, 1787868, operating as Focus Group based in London.
The statement of claim was filed at the Elgin County Courthouse.
All of the defendants are ultimately owned and controlled by the city.
According to the claim, nearly 20 years ago the city undertook an initiative identified as “Partners in Power.” Through its ownership and funding provided by St. Thomas Energy Inc., the city created a series of corporations to allow it to attempt to capitalize on growth opportunities and become more involved in the growing renewable energy sector.
These corporations included Ascent Energy Services Inc. (formerly known as St. Thomas Energy Services Inc., STESI) and Ascent Group Inc. (formerly known as St. Thomas Holding Inc., STHI). These companies operated under the name Ascent Group, with all shares controlled by the city.
Ian's City Scope 