Wiki source code of Hydro One

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1 {{box cssClass="floatinginfobox" title="**Contents**"}}
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5 = Summary =
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7 * Hydro One is Ontario’s largest electricity transmission and distribution service provider.
8 * Hydro One Limited was incorporated on August 31, 2015.
9 * The company has $30.4 billion in assets as of December 31, 2021, and annual revenues in 2021 of approximately $7.2 billion.
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12 [[image:HRNNF0.png||height="346" width="719"]]
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15 Hydro One (TSX: H, OTC: HRNNF) is Ontario’s largest electricity transmission and distribution service provider. The company distributes electricity across Ontario to nearly 1.4 million rural customers, or approximately 26% of the total number of customers in Ontario. The company has $30.4 billion in assets as of December 31, 2021, and annual revenues in 2021 of approximately $7.2 billion.
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18 [[image:HRNNF1.jpg]]
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21 = Financial Highlights =
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23 **2Q 2022 Results**
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25 The Company reported net income attributable to common shareholders of $255 million during the quarter ended June 30, 2022, compared to $238 million in the same period of 2021. This resulted in EPS of $0.43, compared to EPS of $0.40 in the prior year.{{footnote}}https://www.hydroone.com/investorrelations/Reports/Hydro%20One%20Limited%202Q22%20Results.pdf{{/footnote}}
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28 Revenues, net of purchased power for the second quarter of $988 million were $104 million higher than revenues, net of purchased power for the second quarter of 2021. The increase is mainly due to the impacts of the Ontario Energy Board (OEB) decision in April 2021 regarding the deferred tax asset (DTA) amounts previously allocated to ratepayers (DTA Implementation Decision), as well as revenues resulting from OEB-approved 2022 rates and higher peak demand. Pursuant to the DTA Implementation Decision, Hydro One is currently recovering deferred tax amounts allocated to rate payers and included in customer rates for the 2017 to 2021 period over a two-year period which began on July 1, 2021. Hydro One also adjusted the transmission revenue requirement and base distribution rates effective January 1, 2022 to remove any further allocation of deferred tax amounts. The impacts of the DTA Implementation Decision are offset by a higher tax expense, and therefore net income neutral in the period.
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31 Hydro One restored power to approximately 760,000 customers affected by the storm on May 21, 2022. The storm caused significant devastation that included approximately 2,500 broken poles and approximately 500 damaged transformers.
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34 = Business Overview =
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36 Hydro One Limited was incorporated on August 31, 2015, under the Business Corporations Act (Ontario). On October 31, 2015, Hydro One Limited acquired Hydro One Inc.
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39 [[image:HRNNF2.jpg]]
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42 Through its wholly-owned subsidiary Hydro One Inc., Hydro One is Ontario’s largest electricity transmission and distribution utility. Hydro One owns and operates substantially all of Ontario’s electricity transmission network and is the largest electricity distributor in Ontario by number of customers. The Company’s regulated transmission and distribution operations are owned by Hydro One Inc. Hydro One delivers electricity safely and reliably to approximately 1.5 million customers across the province of Ontario, and to large industrial customers and municipal utilities. Hydro One Inc. owns and operates approximately 30,000 circuit kilometres of high-voltage transmission lines and approximately 125,000 circuit kilometres of primary low-voltage distribution lines. Hydro One has three segments: transmission; distribution; and other.{{footnote}}https://www.hydroone.com/investorrelations/Reports/Hydro%20One%20Limited%20Annual%20Report%202021.pdf{{/footnote}}
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45 == Transmission Segment ==
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47 Hydro One’s transmission business owns, operates and maintains Hydro One's transmission system, which accounts for approximately 98% of Ontario’s transmission capacity based on revenue approved by the Ontario Energy Board (OEB). As at December 31, 2021, the Company's transmission business consists of the transmission system operated by subsidiaries of Hydro One Inc. (a wholly owned subsidiary of the Company), Hydro One Networks Inc. (Hydro One Networks) and Hydro One Sault Ste. Marie LP (HOSSM), as well as an approximately 66% interest in B2M Limited Partnership (B2M LP), a limited partnership between Hydro One and the Saugeen Ojibway Nation (SON), and an approximately 55% interest in Niagara Reinforcement Limited Partnership (NRLP), a limited partnership between Hydro One and Six Nations of the Grand River Development Corporation and the Mississaugas of the Credit First Nation (collectively, the First Nations Partners). The Company’s transmission business is rate-regulated and earns revenues mainly by charging transmission rates that are approved by the OEB.
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50 == Distribution Segment ==
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52 Hydro One’s distribution business is the largest in Ontario and consists of the distribution system operated by Hydro One Inc.'s subsidiaries, Hydro One Networks, inclusive of the distribution system of Orillia Power Distribution Corporation (Orillia Power) and the business and distribution assets of Peterborough Distribution Inc., (Peterborough Distribution) and Hydro One Remote Communities Inc. (Hydro One Remote Communities). The Company’s distribution business is rate-regulated and earns revenues mainly by charging distribution rates that are approved by the OEB.
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55 == Other Segment ==
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57 Hydro One's other segment consists principally of its telecommunications business, which provides telecommunications support for the Company’s transmission and distribution businesses, as well as certain corporate activities.
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60 The telecommunication business is carried out by Hydro One's whollyowned subsidiary Acronym Solutions Inc. (Acronym Solutions), formerly Hydro One Telecom Inc. In addition to supporting Hydro One's regulated business segments, Acronym Solutions offers a comprehensive suite of Information Communications Technology solutions within a number of categories including: Network and Internet; Operations; Cloud; Managed Security; and Voice and Collaboration, that extend beyond its fibre optic network, in a competitive commercial market. Acronym Solutions is not regulated by the OEB, however Acronym Solutions is registered with the Canadian Radio-television and Telecommunications Commission as a non-dominant, facilities-based carrier, providing broadband telecommunications services in Ontario with connections to Montreal, Quebec; Buffalo, New York; and Detroit, Michigan.
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63 [[image:HRNNF3.jpg]]
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66 == Services ==
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68 **Residential Services**
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70 * Seasonal Residents
71 * Working Safely at Home
72 * Have You Been Disconnected?
73 * Financial Assistance
74 * Electric Vehicle Buyer's Guide
75 * Indigenous Relations
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78 **Business Services**
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80 * Commercial/Industrial, Generators and LDCs
81 * Links and Forms
82 * Farmers
83 * Builders & Contractors
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86 = References =
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88 {{putFootnotes/}}
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