07/17/2019 | Press release | Distributed by Public on 07/17/2019 08:50
Minden, ON, July 17, 2019 -Today, Hydro One, Ontario's largest electricity transmission and distribution company, announced plans to invest approximately $33 million to expand the Minden Transmission Station to improve reliability and support future economic growth in the region.
Over the next two years, Hydro One plans to expand the Minden Transmission Station and install two new transformers to improve reliability and increase the available power supply to the region to accommodate commercial and residential growth. Through its grid modernization program, Hydro One will also be installing new devices that will enable remote monitoring of the system to determine when and where outages have happened and remotely take action to restore power from the Ontario Grid Control Center, Hydro One's central hub that oversees daily operations.
'As we approach one year since the fire, Hydro One will be able to make the permanent upgrades the community is counting on to replace aging infrastructure and build a safe and reliable power supply for years to come,' said Darlene Bradley, Acting Chief Operating Officer, Hydro One. 'This expansion is part of Hydro One's plan to make prudent upgrades and investments to increase the supply of power and build a stronger electricity system for the Minden and Haliburton region.'
'Our community came together in support of one another, last summer during the outage caused by the fire at the Minden Transmission Station. I am pleased to see that Hydro One continues to invest in our region to provide reliable service and support for local families and businesses to encourage economic growth,' said Member of Provincial Parliament, Laurie Scott.
Station expansion and project upgrades are expected to include the:
On July 26, 2018, during a significant storm, a fire at Minden Transmission Station resulted in a power outage for many Hydro One customers in the area. The fire caused significant damage to the station's transformer, which impacted the alternate supply of power to the region. It also interrupted work that had begun to upgrade the site. Throughout the remaining months of 2018, staff worked to safely remove the damaged equipment and install a temporary transformer in the case of an outage. Hydro One crews will now be able to complete the planned expansion to the Minden Transmission Station.
About Hydro One Inc.:
Hydro One Inc. is a fully owned subsidiary of Hydro One Limited, Ontario's largest electricity transmission and distribution provider with almost 1.4 million valued customers, almost C$25.5 billion in assets and 2018 annual revenues of almost C$6.2 billion. Our team of approximately 8,600 skilled and dedicated employees proudly build and maintain a safe and reliable electricity system which is essential to supporting strong and successful communities. In 2018, Hydro One invested almost $1.6 billion in its 30,000 circuit kilometres of high-voltage transmission and 123,000 circuit kilometres of primary distribution networks and injected approximately $1.3 billion into the economy by buying goods and services in Ontario. We are committed to the communities where we live and work through community investment, sustainability and diversity initiatives. We are one of only six utility companies in Canada to achieve the Sustainable Electricity Company designation from the Canadian Electricity Association. Hydro One Limited's common shares are listed on the Toronto Stock Exchange (TSX: H).
Forward-Looking Statements and Information:
This press release may contain 'forward-looking information' within the meaning of applicable securities laws. Such information includes, but is not limited to, statements related to: momentum; continuous improvement; commitment to safety and service; vision and strategy; customer service; reliability and performance; connections; the Company's transmission and distribution regulatory applications, related decisions and anticipated impacts; ongoing and planned investments, projects and initiatives; dividends; and transition of the Company's senior management team. Words such as 'expect,' 'anticipate,' 'intend,' 'attempt,' 'may,' 'plan,' 'will', 'can', 'believe,' 'seek,' 'estimate,' and variations of such words and similar expressions are intended to identify such forward-looking information. These statements are not guarantees of future performance or actions and involve assumptions and risks and uncertainties that are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed, implied or forecasted in such forward-looking information. Some of the factors that could cause actual results or outcomes to differ materially from the results expressed, implied or forecasted by such forward-looking information, including some of the assumptions used in making such statements, are discussed more fully in Hydro One's filings with the securities regulatory authorities in Canada, which are available on SEDAR at www.sedar.com. Hydro One does not intend, and it disclaims any obligation, to update any forward-looking information, except as required by law.
For further information: Hydro One Media Relations 24 hours a day at 1-877-506-7584 (toll-free in Ontario only) or 416-345-6868. Our website is www.HydroOne.com. Follow us on facebook.com/hydrooneofficial, twitter.com/hydroone and instagram.com/hydrooneofficial.