Hydro One
 |
|
| Public | |
| Traded as | : H |
| Industry | Electric Utilities |
| Predecessor | Ontario Hydro |
| Founded | Toronto, Ontario (1999) |
| Headquarters | Toronto, Ontario, Canada |
|
Area served
|
Ontario |
|
Key people
|
|
| Products | Transmission and Distribution |
| Revenue |
 CA$ 6.538 Billion (2015)
|
| Profit |
CA$ 713 Million (2015)
|
| Total assets |
 CA$ 24.328 Billion (2015)
|
| Total equity |
CA$ 9.901 Billion (2015)
|
| Owners |
|
|
Number of employees
|
5,619 regular employees (2014) 2,237 temporary, contract and part-time employees (2014) 7,682 pensioners (2014) |
| Subsidiaries | Hydro One Networks Inc. Hydro One Remote Communities Inc. Hydro One Telecom Inc. |
| Website | www |
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 government of Premier Mike Harris 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, making it a Crown corporation. Following its initial public offering on the 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 2 December 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.
Hydro One is a holding company with four subsidiaries, the largest being Hydro One Networks. It operates 97% of the high voltage transmission grid throughout Ontario, and serves 1.3 million customers in rural areas across the province in its capacity as Ontario's largest distribution utility.
Hydro One's transmission line voltages are 500,000 volts, 230,000 volts and 115,000 volts. Hydro One has interconnections with Manitoba Hydro, Hydro-Québec, Minnesota Power, DTE Energy/ITC, Niagara Mohawk Power and the New York Power Authority.
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Wikipedia