Directive from the Government of
Ontario will expedite development
and construction of transmission infrastructure to support
growth
WINDSOR,
ON, April 4, 2022 /CNW/ - Today, the Minister
of Energy has directed the Ontario Energy Board to amend Hydro One
Networks Inc.'s ("Hydro One") 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. As the
Windsor-Essex region continues to grow, a consolidated
approach to developing the new transmission lines provides more
transparency during engagement with Indigenous communities,
residents, municipalities and stakeholders and will expedite
development in the region.
"Hydro One is proud to transmit low-carbon electricity to
Ontario's businesses and
communities and we are uniquely positioned to facilitate the
transition toward a more sustainable future. With our long history
of building transmission projects and our transmission reliability
record in the top quartile in Canada, our resilient electricity network will
meet the incredible growth in the region and attract new
investments," said Mark Poweska,
President and Chief Executive Officer, Hydro One. "Early engagement
with Indigenous communities, municipalities and residents is vital
to project planning and development and we are committed to
engaging throughout the lifecycle of these projects. We are excited
about today's announcement and the partnership between Hydro One,
the local business community and municipal and provincial
governments to advance critical infrastructure."
"Our government is supporting the incredible growth in
Southwest Ontario by accelerating
the development of new transmission lines that will power the new
Stellantis-LGES battery plant, the growing greenhouse sector and
other job creators," said Todd
Smith, Minister of Energy. "As our government reduces the
price of doing business, including by lowering electricity prices
by 15-17% for large commercial and industrial customers, we have
seen significant new investment. Today we are demonstrating our
commitment to build the critical infrastructure to support those
new jobs."
"The Government of Ontario is
demonstrating their commitment to support the Stellantis-LGES
joint-venture, which is preparing to invest $5-billion in our community and create about
2,500 local jobs," said Drew
Dilkens, Mayor of Windsor.
"The City of Windsor is united in
supporting this transmission project – not only is it needed to
secure the battery plant, but to make any future investment in our
region possible."
"The booming agri-food industry in Leamington, and across Essex County, creates
great local jobs and helps put food on tables across North America," said Hilda MacDonald, Mayor of Leamington. "Today's announcement will help
speed up local developments and secure a bright future for the
agri-food industry in my community."
"Our key industries have expressed the critical need for
increased power and adequate infrastructure to supply the growing
regional demand. The expansion of the designated new electricity
infrastructure is essential to economic growth and prosperity in
Windsor-Essex," said C. Stephen MacKenzie, President and Chief Executive
Officer, Invest WindsorEssex. "As the lead economic development
agency for the region, Invest WindsorEssex strongly supports the
prioritization of this transmission project in southwestern
Ontario to ensure continued local
and global investment."
Current projects under development and planned for
construction:
- The Chatham to Lakeshore Line,
a 230-kilovolt line from Chatham Switching Station to the new
Lakeshore Transformer Station currently under construction in the
Municipality of Lakeshore
- The St. Clair Line, a 230-kilovolt line from Lambton
Transformer Station, south of Sarnia, to Chatham Switching
Station
To be developed and prioritized for construction:
- The Longwood to Lakeshore Line, a 500-kilovolt line from
Longwood Transformer Station, west of London, to the new Lakeshore Transformer
Station
To be developed with scope to be further refined through
planning by the IESO:
- A second 500-kilovolt line from Longwood Transformer Station to
Lakeshore Transformer Station
- A 230-kilovolt line that would run from the Windsor area to Lakeshore Transformer
Station
The development portion of these projects includes Indigenous
and community engagement, a preliminary engineering design, an
estimation of cost and the Environmental Assessment.
More detail about Hydro One's projects can be found:
https://www.hydroone.com/about/corporate-information/major-projects
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 at
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 through 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:
This press release may contain "forward-looking information"
within the meaning of applicable securities laws. 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.
SOURCE Hydro One Inc.