TORONTO, Dec. 19, 2019 /CNW/ - Hydro One Networks Inc.
("Hydro One"), Ontario's largest
electricity transmission and distribution company, received a
decision from the Ontario Energy Board ("OEB") on the company's
motion to reconsider the handling of pension contributions included
in Hydro One's 2018-2022 Distribution Revenue Requirement
Application.
The OEB has decided to uphold its original decision. Hydro One
is reviewing the decision in detail to determine the appropriate
next steps.
A copy of the decision is available on the OEB's website.
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 almost 1.4 million valued customers,
over $25.6 billion in assets and 2018
annual revenues of over $6.1 billion.
Our team of approximately 8,600 skilled and dedicated employees
proudly build and maintain a safe and reliable electricity system
which is essential to supporting strong and successful communities.
In 2018, Hydro One invested almost $1.6
billion in its 30,000 circuit kilometres of high-voltage
transmission and 123,000 circuit kilometres of primary distribution
networks and injected approximately $1.3
billion into the economy by buying goods and services in
Ontario. We are committed to the
communities where we live and work through community investment,
sustainability and diversity initiatives. We are designated as a
Sustainable Electricity Company by the Canadian Electricity
Association. Hydro One Limited's common shares are listed on the
Toronto Stock Exchange (TSX: H).
Forward-Looking Statements and Information:
This press
release and the decision to which it refers may contain
"forward-looking information" within the meaning of applicable
securities laws. Words such as "expect", "anticipate", "intend",
"attempt", "may", "plan", "will", "can", "believe", "seek",
"estimate", and variations of such words and similar expressions
are intended to identify such forward-looking information. These
statements are not guarantees of future performance or actions and
involve assumptions and risks and uncertainties that are difficult
to predict. Therefore, actual outcomes and results may differ
materially from what is expressed, implied or forecasted in such
forward-looking information. Some of the factors that could cause
actual results or outcomes to differ materially from the results
expressed, implied or forecasted by such forward-looking
information, including some of the assumptions used in making such
statements, are discussed more fully in Hydro One's filings with
the securities regulatory authorities in Canada, which are available on SEDAR at
www.sedar.com. Hydro One does not intend, and it disclaims any
obligation, to update any forward-looking information, except as
required by law.
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SOURCE Hydro One Limited