How much is Enersource Hydro Mississauga worth and is this the right time to sell it?
Those are among the questions that a financial consultant will be asked to answer for the consideration of City council by June 11.
Council passed a resolution yesterday to hire Credit Suisse Securities (Canada) Inc. to provide advice on the worth of Enersource, and the options council may consider if it wants to sell the electrical distribution system.
"We have not made any decisions and must allow this review process to take place in a responsible and respectful manner," Mayor Hazel McCallion said in  a statement. "I want to emphasize once again how important it is that Council have all the facts before any decisions are made."
It has been speculated that the City could sell Enersource for some $250-$300 million if it decides to divest itself of its 90 per cent ownership of the corporation, which provides a return to the City of about $7-$10 million a year.
If it were sold, council would then have to decide what to do with the proceeds. Options could include establishing a special fund to pay for infrastructure replacement or providing a tax holiday for residents.
"We are expecting that Credit Suisse will conduct a thorough valuation of Enersource and provide us with advice to maximize its financial value to the City," McCallion said.
jstewart@mississauga.net