Hydro One Proposes $37 Billion Ontario Power Grid Upgrade

Hydro One Networks Inc. submitted a 2028-2032 Joint Rate Application to the Ontario Energy Board proposing a $37 billion investment to modernize the province's electricity transmission and distribution systems. The plan seeks to address rising electricity demand by adding 6,000 megawatts of transmission capacity, modernizing 1,400 kilometers of transmission lines, and replacing more than 85,000 distribution poles.

To reduce outage durations, the proposal includes installing 5,400 residential energy storage systems and deploying smart switching technology on 90% of major distribution lines. Megan Telford, president and CEO of Hydro One, stated that the province's growth, prosperity and competitiveness depend on a reliable and secure electricity system.

If the Ontario Energy Board approves the application, typical medium-density residential customers would see a monthly bill increase of $0.50 in 2028, with an average annual increase of $1.14 through 2032. However, the company noted that distribution base charges would experience a slight initial decrease.