Sault Ste. Marie, ON, June 11, 2019 – Today, Hydro One announced plans to invest approximately $40 million in significant infrastructure upgrades to improve service reliability and support future economic growth in the Sault Ste. Marie region.
Over the next four years, Hydro One plans to improve its high-voltage electricity transmission service and ensure public safety in the Sault Ste. Marie area by replacing approximately 70 kilometres of transmission line and wood poles, upgrading two transmission stations and conducting tree trimming along nearly 400 kilometres of Hydro One corridors.
“A loss of power grinds life to a halt, impacting businesses, families and productivity. By investing in the Sault Ste. Marie region, Hydro One plans to minimize power outages and keep the public safe,” said Mark Poweska, President and Chief Executive Officer, Hydro One. “A strong and reliable high-voltage system helps to grow the economy by helping businesses start up and grow. Through the replacement of aging infrastructure in the region and across the province, Hydro One will be able to build a stronger, safer and more reliable electricity system for Ontario now and into the future.”
These projects are expected to include:
- Upgrading the Sault#3 transmission line, which was put in service in 1929 and spans from Sault Ste. Marie to the Montreal River Area.
- Upgrading the D.A. Watson and Echo River Transmission Stations.
- Tree trimming along 400 kilometers of Hydro One corridors.
In October 2016, Hydro One acquired Great Lakes Power Transmission LP and streamlined the operations of both organizations in the region, maintaining a work centre with staff accountable for the maintenance and replacement of local infrastructure. Now known as Hydro One Sault Ste. Marie, it operates as a standalone licensed transmitter and connects Northern Ontario to Southern Ontario. It is the second-largest electricity transmitter in the province.
About Hydro One Inc.:
Hydro One Inc. is a fully owned subsidiary of Hydro One Limited, Ontario's largest electricity transmission and distribution provider with almost 1.4 million valued customers, almost C$25.5 billion in assets and 2018 annual revenues of almost C$6.2 billion. Our team of approximately 8,600 skilled and dedicated employees proudly build and maintain a safe and reliable electricity system which is essential to supporting strong and successful communities. In 2018, Hydro One invested almost $1.6 billion in its 30,000 circuit kilometres of high-voltage transmission and 123,000 circuit kilometres of primary distribution networks and injected approximately $1.3 billion into the economy by buying goods and services in Ontario. We are committed to the communities where we live and work through community investment, sustainability and diversity initiatives. We are one of only six utility companies in Canada to achieve the Sustainable Electricity Company designation from the Canadian Electricity Association. Hydro One Limited's common shares are listed on the Toronto Stock Exchange (TSX: H).
Forward-Looking Statements and Information:
This press release may contain "forward-looking information" within the meaning of applicable securities laws. Such information includes, but is not limited to, statements related to: momentum; continuous improvement; commitment to safety and service; vision and strategy; customer service; reliability and performance; connections; the Company's transmission and distribution regulatory applications, related decisions and anticipated impacts; ongoing and planned investments, projects and initiatives; dividends; and transition of the Company's senior management team. Words such as "expect," "anticipate," "intend," "attempt," "may," "plan," "will", "can", "believe," "seek," "estimate," and variations of such words and similar expressions are intended to identify such forward-looking information. These statements are not guarantees of future performance or actions 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 information. Some of the factors that could cause actual results or outcomes to differ materially from the results expressed, implied or forecasted by such forward-looking information, including some of the assumptions used in making such statements, are discussed more fully in Hydro One's filings with the securities regulatory authorities in Canada, which are available on SEDAR at www.sedar.com. Hydro One does not intend, and it disclaims any obligation, to update any forward-looking information, except as required by law.
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. Follow us on facebook.com/hydrooneofficial, twitter.com/hydroone and instagram.com/hydrooneofficial.