This is an application. Steel is still three years out
Hydro One Limited (TSX: H) said September 11 that Hydro One Networks Inc. and Hydro One Sault Ste. Marie LP filed a joint leave-to-construct application with the Ontario Energy Board for the North Shore Link. The filing is required under Section 92 of the Ontario Energy Board Act, 1998 before a transmitter can build or reinforce the system.
The proposed line is a new 230-kilovolt connection from Mississagi Transformer Station near Wharncliffe to the HOSSM-owned Third Line station in Sault Ste. Marie. Hydro One would upgrade Mississagi TS and expand nearby Algoma TS. HOSSM would handle upgrades at Third Line. Hydro One put the investment at $1.3 billion and said the line is expected in service in 2029.
Nine potential First Nation partners would have the chance to invest in a 50 percent equity stake in the transmission-line component under Hydro One's First Nation Equity Partnership Model. Ryan Docherty, executive vice president of capital portfolio delivery, said the project is one of a series of investments the company will advance with First Nations as Ontario demand rises and existing kit ages.
Hydro One reported $39.7 billion of assets at December 31, 2025, and $9 billion of 2025 revenue. It invested $3.4 billion in its networks last year. This filing does not add megawatts. It asks the regulator for permission to build a wire.
Neutral read
H is on the listed utilities list. Banks were skipped. A September 11 OEB filing, $1.3 billion, and a 2029 in-service target are the facts. Write this as a leave-to-construct step, not as a line already in the ground. Watch the OEB process, the First Nation equity take-up, and whether the 2029 date holds once the route is tested.