Hydro One

Hydro One Limited
Company typePublic
TSX: H
IndustryElectric utilities
PredecessorOntario Hydro
FoundedToronto, Ontario, Canada (1999)
Headquarters483 Bay St, Toronto, Ontario, Canada
Area served
Ontario
Key people
  • David Lebeter
    President and CEO
  • Tim Hodgson
    Chair of the Board
ProductsTransmission and distribution
RevenueDecrease CA$ 5.990 billion (2017)[1]
Decrease CA$ 682 million (2017)[1]
Total assetsIncrease CA$ 25.701 billion (2017)[1]
Total equityIncrease CA$ 10.231 billion (2017)[1]
Owners
Number of employees
5,422 regular employees (2017)
2,018 temporary, contract and part-time employees (2017)
7,682 pensioners (2014)[5]
SubsidiariesHydro One Networks Inc.
Hydro One Remote Communities Inc.
Acronym Solutions Inc. (formerly Hydro One Telecom Inc.)
Websitewww.hydroone.com

Hydro One Limited is an electricity transmission and distribution utility serving the Canadian province of Ontario. Hydro One traces its history to the early 20th century and the establishment of the Hydro-Electric Power Commission of Ontario (renamed "Ontario Hydro" in 1974). In October 1998, the provincial legislature passed the Energy Competition Act which restructured Ontario Hydro into separate entities responsible for electrical generation, transmission/delivery, and price management with a final goal of total privatization.

Hydro One was established at this time as a corporation under the Business Corporations Act with the Government of Ontario as sole shareholder.[6] Following its initial public offering on the Toronto Stock Exchange in 2015, the Government of Ontario began selling shares to the public with a final goal of 60% of the company being held by private investors. A report released on December 2, 2015, by the Auditor General of Ontario raised concern with the sale, indicating that power outages are increasing and that Hydro One's equipment is aging and "at very high risk of failing". The estimated cost of necessary repairs was $4.472 billion.[7]

  1. ^ a b c d "Hydro One Reports Positive Fourth Quarter Results" (PDF). Archived (PDF) from the original on February 20, 2018. Retrieved February 19, 2018.
  2. ^ "Ontario Completes Sale of Hydro One Shares to First Nations". www.newswire.ca. Archived from the original on January 4, 2018. Retrieved January 4, 2018.
  3. ^ Cite error: The named reference ofn was invoked but never defined (see the help page).
  4. ^ "Ontario raises $1.7B with new Hydro One share issue". Toronto Star. The Canadian Press. April 14, 2016. Archived from the original on April 16, 2016. Retrieved April 15, 2016.
  5. ^ "Hydro One". Archived from the original on December 8, 2015. Retrieved November 27, 2015.
  6. ^ Public Accounts of Ontario, Ministry of Finance (November 2000). "Public Accounts 1999-2000 Financial Statement". Ontario Ministry of Finance. Schedule of Financial Statements, Schedule 6: Government Business Enterprises and Other Government Organizations. Archived from the original on March 20, 2012.
  7. ^ Morrow, Adrian (December 2, 2015). "Ontarians paid $37-billion above market for electricity over eight years, Auditor-General's report says". Globe and Mail. Toronto, Ontario, Canada. Archived from the original on November 28, 2017. Retrieved December 3, 2015.