Toronto Hydro-Electric System Receives Decision on its 2012 and 2013 Rate Application
Ontario Energy Board Issues the Decision for both capital infrastructure and Bremner Station
TORONTO, April 2, 2013 /CNW/ - Today, Toronto Hydro-Electric System ("Toronto Hydro") has received the Ontario Energy Board's (OEB) Decision and Order for its application for the 2012 and 2013 capital infrastructure plan (ICM) and also for its application for Bremner Transformer Station in downtown Toronto.
The OEB has strongly endorsed Toronto Hydro's capital investment program, its methodology and execution. Citing the strength of the utility's evidence, the OEB supports the investment program which is intended to enhance safety and reliability of the distribution system for the benefit of customers and employees.
The decision provides for an increase in capital spending to address aging electricity distribution infrastructure, and allows for the construction of the new Bremner Transformer station in downtown Toronto to relieve existing stations and provide for future load growth in the area. Bremner Station will be the first transformer station built in downtown Toronto since the 1960's.
Due to the complexity and length of the decision, Toronto Hydro will need some time to review it in detail, analyze its meaning for the business and the impact on rates. Toronto Hydro appreciates the careful consideration that the OEB has given the application.
About Toronto Hydro
The principal business of the Corporation and its subsidiaries is the distribution of electricity by Toronto Hydro-Electric System Limited. Toronto Hydro-Electric System owns and operates an electricity distribution system, which delivers electricity to approximately 719,000 customers located in the City of Toronto. It is the largest municipal electricity distribution company in Canada and distributes approximately 19% of the electricity consumed in the Province of Ontario.
SOURCE Toronto Hydro Corporation