On June 13, a special Council meeting was called to hear the annual report by Holdco.  This is the organization that manages Cobourg’s Electricity and Water. I find it complicated but let me try to explain:  Holdco has two subsidiaries: Lakefront Utilities Inc. (LUI) which manages electricity and Lakefront Utility Services Inc. (LUSI) which manages water and some fibre Optics used for the Town’s Internet.  LUI owns the electric infrastructure but LUSI hires and manages all employees so the public deals with LUSI. So when Holdco reported on their year, there were actually four reports (more below). HOLDCO is owned by the Town so officially reports to Council but like the Police, they have a board with a Town representative: Mayor Lucas Cleveland…. Read complete articleUpdate from Holdco – 2024