Espanola and Sables-Spanish Rivers township councils will be hosting meetings to finalize the sale of Espanola Hydro.
The municipalities have an acceptance of a letter of intent from North Bay Hydro Distribution Ltd.
The three will now proceed to the next phase, including preparing an agreement of purchase and sale.
Both councils state their main focus is to ensure affordable, reliable and sustainable electricity to both communities.
The Town of Espanola currently owns 81% of Espanola Hydro, and Sables-Spanish Rivers the remaining 19%; servicing 3,289 customers.
The meetings will be held over the next couple of weeks
