The application is in. The rates are not set
Hydro One Limited (TSX: H), through Hydro One Networks Inc., said Wednesday it submitted its 2028-2032 Joint Rate Application to the Ontario Energy Board. The CNW note is dated Oct. 7 at 6:40 p.m. ET. The proposed investment plan for transmission and distribution is about $37 billion over five years if the OEB approves it. Megan Telford, president and CEO, said the filing is meant to replace aging kit, add capacity, and harden the system.
If approved, Hydro One said the plan would add transmission capacity to connect and deliver about 6,000 megawatts, modernize about 1,400 kilometres of transmission lines, and replace or refurbish more than 85,000 distribution poles. It also said about 90 percent of major distribution lines would get smart switching, and that 5,400 residential storage systems are in the filing to cut long outages. Those are application numbers. They are not in-service dates.
The company put the typical year-round medium-density residential bill, if approved, at an extra 50 cents a month in 2028 for transmission, then about $1.14 a year on average from 2028 to 2032. Distribution base charges would drop about 10 cents in 2028 and stay flat after that, largely on the Distribution Rate Protection Program and a proposed refund. Hydro One said those estimates can change with the OEB decision. Hydro One Sault Ste. Marie transmission would add about 2 cents a year.
This is a Joint Rate Application. It is not an OEB approval, not a rate order, and not steel in the ground.