Ontario Energy Board Releases Decision Respecting Hydro One Transmission Cost of Service Application

May 28, 2009


    TORONTO, May 28 /CNW/ - Hydro One announced today that the Ontario Energy
Board (OEB) issued a decision respecting its 2009/2010 Cost of Service
application for the transmission of electricity and other charges, to be
effective July 1, 2009 and January 1, 2010 (Board File No.: EB-2008-0272).
    A copy of the decision is available on the OEB's website at
www.oeb.gov.on.ca.
    A copy of Hydro One's application is available at
http://www.hydroonenetworks.com/2009RateApplication.

    Hydro One delivers electricity safely, reliably and responsibly to homes
and businesses across the province of Ontario and owns and operates Ontario's
29,000 kilometre high-voltage transmission network that delivers electricity
to large industrial customers and municipal utilities, and a 123,000 kilometre
low-voltage distribution system that serves about 1.3 million end-use
customers and smaller municipal utilities in the province. Hydro One is wholly
owned by the Province of Ontario.

    FORWARD-LOOKING STATEMENTS AND INFORMATION

    Our oral and written public communications, including this document,
often contain forward-looking statements that are based on current
expectations, estimates, forecasts and projections about our business and the
industry in which we operate and include beliefs and assumptions made by the
management of our company. Such statements include, but are not limited to:
expectations regarding developments in the statutory and operating framework
for electricity distribution and transmission in Ontario including changes to
codes, licenses, rates, rate orders, cost recovery, rates of return, rate
structures and revenue requirements in both our transmission and distribution
businesses and the timing of decisions from the OEB; expectations regarding
our financing activities; statements regarding the pension asset transfer;
statements regarding future capital expenditures and our investment plans;
expectations regarding the results of our projects; statements regarding
future pension contributions; the estimated impact of the changes in the
forecast long-term Government of Canada bond yield (used in determining our
regulated rate of return) on our results of operations; and statements about
IFRS. Words such as "expect," "anticipate," "intend," "attempt," "may,"
"plan," "will", "believe," "seek," "estimate," and variations of such words
and similar expressions are intended to identify such forward-looking
statements. These statements are not guarantees of future performance 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 statements. We do not
intend, and we disclaim any obligation to update any forward-looking
statements, except as required by law.

    These forward-looking statements are based on a variety of factors and
assumptions including, but not limited to the following: no unforeseen changes
in the legislative and operating framework for Ontario's electricity market;
no unfavourable decisions from the OEB and other regulatory bodies concerning
outstanding rate and other applications; no unforeseen changes in rate orders
or rate structures for our distribution and transmission businesses; a stable
regulatory environment; and no significant event occurring outside the
ordinary course of business. These assumptions are based on information
currently available to us, including information obtained from third party
industry analysts. Actual results may differ materially from those predicted
by such forward-looking statements.




For further information:

For further information: Hydro One Media Relations 24 hours a day at
1-877-506-7584 (toll-free in Ontario only) or (416) 345-6868. Our website is
www.HydroOne.com


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