TORONTO – Hydro One Limited (“Hydro One”) announced today that its wholly-owned subsidiary, Hydro One Networks Inc., has applied to the Ontario Energy Board (“OEB”), for a one-year inflationary adjustment to its transmission rates for 2019 to deliver safe and reliable electricity at the lowest possible cost. That is an increase of 23 cents per month on a typical residential customer’s monthly bill.
“We know every dollar we spend comes at a cost to our customers and the people of Ontario, which is why we are focusing on the most critical investments to keep the system safe, the power on and costs as low as possible,” said Paul Dobson, Acting President and CEO, Hydro One. “Safe, reliable power is essential to a thriving economy. Investment in the high-voltage electricity system will help to build a strong and prosperous Ontario.”
Next year, Hydro One expects to file an application under the OEB’s custom incentive rates framework for 2020-2022 following a thorough review of the transmission investment plan.
Hydro One’s electricity transmission business serves as the link connecting power generators with customers composed of local electric utilities and large-scale industrial customers, including manufacturers and mines. The company is responsible for approximately 98 per cent of Ontario’s high-voltage transmission capacity based on revenue approved by the OEB.
A copy of Hydro One’s application is available at: www.HydroOne.com/TxRateApplication.