Toronto: Hydro One Limited announced October 26 that its wholly-owned subsidiary, Hydro One Networks Inc., has applied to the Ontario Energy Board for a one-year inflationary adjustment to its transmission rates for 2019 “to deliver safe and reliable electricity at the lowest possible cost.” The Application, if approved, would result in an average impact on transmission rates of 2.6% and a total bill impact of 0.2% for a typical Residential (R1) customer consuming 750 kW per month and a total bill impact of 0.1% for a typical energy-billed General Service (GS < 50 kW) customer consuming 2,000 kWh per month. Hydro One notes this is an increase of 23 cents per month on a typical residential customer’s monthly bill.
“We know every dollar we spend comes at a cost to our customers and the people of Ontario, which is why we are focusing on the most critical investments to keep the system safe, the power on and costs as low as possible,” said Paul Dobson, the Acting President and CEO of Hydro One. “Safe, reliable power is essential to a thriving economy. Investment in the high-voltage electricity system will help to build a strong and prosperous Ontario.”
In 2019 Hydro One expects to file an application under the OEB’s custom incentive rates framework for 2020-2022, following a thorough review of the transmission investment plan.