TORONTO, Dec. 22, 2020 /CNW/ -Today, Hydro One announced
it is ready to apply the new temporary electricity relief rate set
by the Ontario government.
Electricity rates for residential, small business and farm
customers on Time-of-Use or Tiered pricing will be temporarily
reduced to a flat rate of 8.5 cents
per kWh, effective January 1,
2021.
"The Ontario government's
announcement today will provide customers with much needed relief.
We thank them for supporting electricity customers during this
challenging time," said Jason Fitzsimmons, Chief Corporate
Affairs and Customer Care Officer, Hydro One. "We also continue to
support our customers facing hardship by offering flexibility and
assistance through our Pandemic Relief Program. We encourage any
customer who is struggling to reach out to us to learn about their
options."
This change is automatically applied and does not require
customers to take any action. More details are available at
www.HydroOne.com/RateRelief.
In addition, residential and small business customers in arrears
can contact Hydro One to access a one-time bill credit through
the enhanced COVID-19 Energy Assistance Program
(CEAP). Customers experiencing financial hardship are
encouraged to contact the company for assistance, including to
access Hydro One's Pandemic Relief Program which has been providing
customers with additional financial support and payment flexibility
since March.
Hydro One Limited (TSX: H)
Hydro One Limited, through
its wholly-owned subsidiaries, is Ontario's largest electricity transmission and
distribution provider with approximately 1.4 million valued
customers, approximately $27.1
billion in assets as at December 31,
2019, and annual revenues in 2019 of approximately
$6.5 billion. Our team of
approximately 8,800 skilled and dedicated employees proudly build
and maintain a safe and reliable electricity system which is
essential to supporting strong and successful communities. In 2019,
Hydro One invested approximately $1.7
billion in its transmission and distribution networks and
supported the economy through buying approximately $1.5 billion of goods and services. 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 TSX and certain of Hydro One Inc.'s medium term notes
are listed on the NYSE. Additional information can be accessed at
www.hydroone.com; www.sedar.com or www.sec.gov.
Forward-Looking Statements and Information:
This press
release 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.
Our website is www.HydroOne.com. Follow us
on facebook.com/hydrooneofficial, twitter.com/hydroone and instagram.com/hydrooneofficial
SOURCE Hydro One Inc.