Since the pandemic began, outstanding balances of business customers have increased by 51 per cent
TORONTO, Jan. 28, 2021 /CNW/ - Today, Hydro One announced a Small Business Pandemic Relief Program to provide financial assistance and flexibility to its small business customers when they need it most. Since the pandemic began, the company has seen the outstanding balances of business customers increase by 51 per cent. Combined with the Government of Ontario's COVID-19 Energy Assistance Program (CEAP) for Small Business, Hydro One's new relief program will help connect customers with up to $3,000 in financial assistance.
"Small businesses are the heart of a community and they are facing serious challenges during this unprecedented time," said Mark Poweska, President and CEO, Hydro One. "As a customer-driven organization, we believe we have an important responsibility to support local economies and help small businesses with financial relief and flexibility. Our Customer Care Team is ready to quickly connect customers with up to $3,000 of financial assistance, government relief and flexible payment plans to allow business owners to focus on what matters – staying safe and making it through this challenging time."
"Our government stands by small businesses and continues to deliver urgent electricity relief for businesses impacted by COVID-19 restrictions," said Greg Rickford, Minister of Energy, Northern Development and Mines. "Hydro One's new program is welcomed relief for small businesses as they continue working overtime to support local economies and strengthen communities."
"As drivers of economic growth across Ontario, small businesses need our help now more than ever," said Rocco Rossi, President and CEO, Ontario Chamber of Commerce. "Through Hydro One's new Small Business Pandemic Relief Program, small businesses across the province will get access to supports they need and deserve. Thank you to the entire Hydro One team for showing leadership during this challenging time."
According to Statistics Canada, small businesses represent 98 per cent of all employer businesses in Canada and were more likely to experience a decrease in revenue in the current economic environment. Hydro One's new relief program will support local economies at a time when it is needed most. If you are a small business owner and need assistance, please call 1-888-664-9376. Hydro One's Customer Contact Centre is open Monday to Friday 7:30 a.m. – 8 p.m.
In addition to Hydro One's Small Business Pandemic Relief Program, residential customers behind on their payments can contact Hydro One to access its Pandemic Relief Program, which has been providing residential customers with 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.
SOURCE Hydro One Inc.