TORONTO – Residents, businesses and visitors in the Chatham-Kent area will benefit from $10 million in new local investments as a result of the 10-year Community Support Agreement signed today between Hydro One Networks Inc. (Hydro One) and the Municipality of Chatham-Kent. The agreement provides the region with direct community support as part of Hydro One’s transmission infrastructure expansion in the region. The community will also receive an additional $300,000 to allocate towards charitable organizations that work to build safe and resilient communities.
“Hydro One is supporting economic prosperity in southwest Ontario through the significant investment in five critical transmission lines. This will ensure the region remains an attractive place to invest, live and work,” said David Lebeter, Chief Operating Officer, Hydro One. “We’re proud to partner with the Municipality of Chatham-Kent. We understand that as communities grow, additional resources are needed to energize important local initiatives.”
“We are excited to engage Council and community members to ensure the equitable funding of cultural and recreational priorities with these new resources,” said Mayor of Chatham-Kent, Darrin Canniff. “We know the transmission lines are needed to support growth in southwestern Ontario. Through this important agreement, we can share in the benefits of these critical lines by funding community-based initiatives that will directly benefit residents, businesses, and visitors of Chatham-Kent.
Earlier this year, the Minister of Energy directed the Ontario Energy Board to amend Hydro One’s transmission license to develop four transmission lines to meet growing electricity demand in southwest Ontario. This is in addition to Hydro One's previous transmission designation for the Chatham to Lakeshore line in 2020. These five transmission lines will meet the needs of new and growing industries and help attract future jobs to the region.
Hydro One Limited (TSX: H)
Hydro One Limited, through its wholly-owned subsidiaries, is Ontario's largest electricity transmission and distribution provider with approximately 1.5 million valued customers, approximately $30.4 billion in assets as of December 31, 2021, and annual revenues in 2021 of approximately $7.2 billion.
Our team of approximately 9,300 skilled and dedicated employees proudly build and maintain a safe and reliable electricity system which is essential to supporting strong and successful communities. In 2021, Hydro One invested approximately $2.1 billion in its transmission and distribution networks and supported the economy by buying approximately $1.7 billion of goods and services.
We are committed to the communities where we live and work through community investment, sustainability and diversity initiatives. We are designated as a Sustainable Electricity Company by the Canadian Electricity Association.
Hydro One Limited's common shares are listed on the TSX and certain of Hydro One Inc.'s medium-term notes are listed on the NYSE. Additional information can be accessed at www.hydroone.com, www.sedar.com or www.sec.gov.
Forward-Looking Statements and Information:
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Media can contact Hydro One Media Relations 24 hours a day at 1-877-506-7584 (toll-free in Ontario only) or 416-345-6868.
Municipality of Chatham-Kent media contact:
Manager of Corporate Initiatives
Municipality of Chatham-Kent
519-360-1998 x 3055