Hydro One - statistics & facts
Hydro One Incorporated is an electricity utility that serves the province of Ontario, Canada. Along with other utilities, it is regulated by the Ontario Energy Board which controls electricity rates and the natural gas industry in the province. Hydro One provides electricity to roughly 1.4 million customers across Ontario.
Hydro One has several subsidiaries in Ontario including Hydro One Networks which serves the majority of rural regions in the province, and Hydro One Remote Communities which serves 22 communities that are not connected to the grid. It is currently one of the largest government-owned electricity agencies in Canada. However, in 2015, the Government of Ontario began to sell Hydro One shares to the public. The provincial government planned to sell up to 60 percent of the company but promises to hold 40 percent of its share. Since 2004, electricity prices in Ontario have decreased notably, falling to an average of 1.36 Canadian dollar cents per kilowatt hour in 2020.
Establishment following Ontario Hydro reorganization
In 1906, under Ontario’s Power Commission Act, the Hydro-Electric Power Commission of Ontario (HPEC or Ontario Hydro) was established. The company was created in order to build transmission lines to supply utilities with electricity generated by private companies already established in Niagara Falls. In 1999, the company was reorganized into five separate companies, including two commercial entities – Ontario Power Generation and Hydro One. Hydro One is now responsible for electricity transmission and distribution, with its distribution segment generating close to five billion Canadian dollars every year.Financials and service area
The company operates a large majority of the high voltage transmission grid across Ontario and distributed 27.5 terawatt hours of electricity in 2019. That year, Hydro One’s total revenues reached 6.48 billion Canadian dollars. Competitor Alectra generated 3.78 billion Canadian dollars in the same time period.Hydro One has several subsidiaries in Ontario including Hydro One Networks which serves the majority of rural regions in the province, and Hydro One Remote Communities which serves 22 communities that are not connected to the grid. It is currently one of the largest government-owned electricity agencies in Canada. However, in 2015, the Government of Ontario began to sell Hydro One shares to the public. The provincial government planned to sell up to 60 percent of the company but promises to hold 40 percent of its share. Since 2004, electricity prices in Ontario have decreased notably, falling to an average of 1.36 Canadian dollar cents per kilowatt hour in 2020.
