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Hydro One Closes Acquisition of Peterborough Distribution Assets
Tuesday 04 August 2020

Canada-based electricity transmission and distribution provider Hydro One Ltd. (TSX: H) has closed the acquisition of the business assets of Peterborough Distribution Inc by its wholly-owned subsidiary, Hydro One Inc, the company said.

The Ontario Energy Board approved the CDN 105m (USD 78.56m) sale on April 30, 2020.

Customers can expect to see a 1 per cent rate reduction to the base distribution portion of their bills starting with their August electricity use. The base distribution portion of the bill will be frozen at this rate for the next five years.

PDI serves approximately 37,000 customers in Peterborough, Lakefield and Norwood.

Hydro One Ltd., through its wholly-owned subsidiaries, is Ontario's largest electricity transmission and distribution provider with approximately 1.4m customers, approximately CDN 27.1bn in assets as at December 31, 2019, and annual revenues in 2019 of approximately CDN 6.5 bn.
Date Published: 04/08/2020