TORONTO, Dec. 22, 2020 /CNW/ -Today, Hydro One announced it is ready to apply the new temporary electricity relief rate set by the Ontario government. Electricity rates for residential, small business and farm customers on Time-of-Use or Tiered pricing will be temporarily reduced to a flat rate of 8.5 cents per kWh, effective January 1, 2021.
"The Ontario government's announcement today will provide customers with much needed relief. We thank them for supporting electricity customers during this challenging time," said Jason Fitzsimmons, Chief Corporate Affairs and Customer Care Officer, Hydro One. "We also continue to support our customers facing hardship by offering flexibility and assistance through our Pandemic Relief Program. We encourage any customer who is struggling to reach out to us to learn about their options."
This change is automatically applied and does not require customers to take any action. More details are available at www.HydroOne.com/RateRelief.
In addition, residential and small business customers in arrears can contact Hydro One to access a one-time bill credit through the enhanced COVID-19 Energy Assistance Program (CEAP). Customers experiencing financial hardship are encouraged to contact the company for assistance, including to access Hydro One's Pandemic Relief Program which has been providing customers with additional 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.
Forward-Looking Statements and Information:
This press release may contain "forward-looking information" within the meaning of applicable securities laws. 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.
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SOURCE Hydro One Inc.
