Hydro One
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 legislature 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.
| Company type | Public |
|---|---|
Traded as | TSX: H |
| Industry | Electric utilities |
| Predecessor | Ontario Hydro |
| Founded | Toronto, Ontario, Canada (1999) |
| Headquarters | 483 Bay St, Toronto, Ontario, Canada |
Area served | Ontario |
Key people |
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| Products | Transmission and distribution |
| Revenue | CA$ 5.990 billion (2017) |
Net income | CA$ 682 million (2017) |
| Total assets | CA$ 25.701 billion (2017) |
| Total equity | CA$ 10.231 billion (2017) |
| Owners |
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Number of employees | 5,422 regular employees (2017) 2,018 temporary, contract and part-time employees (2017) 7,682 pensioners (2014) |
| Subsidiaries | Hydro One Networks Inc. Hydro One Remote Communities Inc. Acronym Solutions Inc. (formerly Hydro One Telecom Inc.) |
| Website | www |
Hydro One was established at this time as a corporation under the Business Corporations Act with the Government of Ontario as sole shareholder. Following its initial public offering on the Toronto Stock Exchange 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 December 2, 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.