Hydro One Inc.
Government announcement on electricity pricing means significant savings for Hydro One's rural, Northern and fixed-income customers Hydro One thanks the Ontario government for introducing substantial electricity bill relief for those who need it the most
Hydro One thanks Premier Kathleen Wynne and Energy Minister Glenn Thibeault for introducing immediate measures to reduce the burden of rising electricity costs on our customers.
"The changes announced today (3/2) will provide significant relief, particularly for those who need it the most - our fixed-income, rural and Northern customers and small businesses," said Mayo Schmidt, Hydro One's CEO. "Ontario households and small businesses could start to see their bills drop by an average of 31 per cent each month as early as this summer."
The Government of Ontario announced plans to:
- Reduce the Global Adjustment charge by 20 per cent,
- Lower the delivery charge for low-density customers,
- Accelerate the move to more fixed delivery charges,
- Introduce an affordability fund to help those customers in need, and
- Introduce a First Nations electricity rate.
These initiatives were developed following discussions with interested parties, including Hydro One. Hydro One's recommendations were based on direct feedback and data from our customers and focused on providing greater fairness for rural and Northern customers who will see their delivery charges fall in line with the provincial average. This underscores our ongoing advocacy on behalf of our customers.
"As a new public company with new leadership, we have put our customers first," added Schmidt. "The recommendations we brought to the table reflect what we have heard from our customers across the province, many of whom were struggling to afford their monthly electricity bills. On behalf of our customers, we want to thank the government for consulting with us and accepting our advice to create a more fair and affordable electricity system and for providing additional assistance to customers who need it the most."
The Company has publicly committed to a more customer-focused strategy to better listen and act on customer concerns. As part of its Flip the Switch campaign, 28 Hydro One senior executives - including Schmidt - joined the Customer Call Centre team on February 16 to speak directly with more than 800 customers about their questions and feedback.
Hydro One has also been a leading force to keep costs down and delivery rates affordable. In the fall of 2016, the Company applied to the Ontario Energy Board to reduce delivery charges for most residential customers in 2017. To help customers dealing with acute hardship, Hydro One introduced the Winter Relief Program in December 2016, an initiative to get the lights - and in some cases heat - back on in time for winter for hundreds of customers who had been disconnected earlier in the year.
To help customers see how these relief measures stack up, Hydro One has posted real examples of profiles at HydroOne.com/Affordability.
About Hydro One Inc.:
Hydro One Inc. is a fully owned subsidiary of Hydro One Limited, Ontario's largest electricity transmission and distribution provider with more than 1.3 million valued customers, $25 billion in assets and annual revenues of over $6.5 billion. Our team of 5,500 skilled and dedicated employees proudly and safely serves suburban, rural and remote communities across Ontario through our 30,000 circuit km high-voltage transmission and 123,000 circuit km primary distribution networks. Hydro One is committed to the communities we serve, and has been rated as the top utility in Canada for its corporate citizenship, sustainability, and diversity initiatives. We are one of only four utility companies in Canada to achieve the Sustainable Energy Company designation from the Canadian Electrical Association. We also provide advanced broadband telecommunications services on a wholesale basis utilizing our extensive fibre optic network. Hydro One Limited's common shares are listed on the Toronto Stock Exchange (TSX: H).
For more information:
Hydro One Inc.
483 Bay Street
Canada, M5G 2P5
Tel: (416) 345-6734
Hydro One Media Relations
24 hours a day
Toll-free: 1-877-506-7584 (Ontario only)