Toronto Hydro Corporation

Toronto Hydro Corporation
Toronto Hydro-Electric System Limited

Toronto Hydro-Electric System Limited

February 21, 2007 11:09 ET

Toronto Hydro-Electric System Files Application for an Increase in Distribution Rates Effective May 1, 2007

TORONTO, ONTARIO--(CCNMatthews - Feb. 21, 2007) - Toronto Hydro-Electric System Limited (THESL), a subsidiary of Toronto Hydro Corporation, filed a Rate Application on January 26, 2007 with its regulator, the Ontario Energy Board (OEB). THESL's Application sought an increase of about 0.4 percent in its electricity distribution rates effective May 1, 2007.

If approved, the average residential THESL customer consuming 1,000 kilowatt hours (kWh) per month would see an increase of $0.14 per month or $1.70 per year on the 'Delivery' line item of their bill. This represents an increase of about 0.1% on the total bill. The increase is to cover costs due to inflation and is adjusted for productivity improvements and the removal of the Large Corporation Tax, based on a formula provided by the OEB to be used by local electricity distribution companies across the province.

Distribution rates cover the costs associated with bringing electricity from transformer stations to homes and businesses in Toronto. This includes the cost of building and maintaining overhead and underground distribution lines, poles, stations and local transformers.

About Toronto Hydro

The Corporation is a holding company which through its wholly-owned subsidiaries:

- Toronto Hydro-Electric System Limited (THESL) - distributes electricity;

- Toronto Hydro Energy Services Inc. - provides street lighting and expressway lighting services, and energy efficiency products and services;

- Toronto Hydro Telecom Inc. - leases fibre optic cable capacity and provides data communication services.

The principal business of the Corporation is the distribution of electricity by THESL. THESL owns and operates an electricity distribution system that delivers electricity to approximately 677,000 customers located in the City of Toronto. THESL is the largest municipal electric distribution company in Canada.

Forward-Looking Information

Certain portions of this press release may constitute forward-looking information. Forward-looking information means disclosure regarding possible events, conditions or results that is based on assumptions about future economic conditions and courses of action or attributable to third parties. In some cases, forward-looking information can be identified by terminology such as "may", "will", "should", "expect", "anticipate", "believe", "estimate", "predict", "potential", "continue", "plan" and similar expressions or the negative of these terms or other comparable terminology. Although the corporation believes that it has a reasonable basis for the forward-looking information included in the press release, such information is subject to a number of risks, uncertainties and assumptions, that may cause actual events, conditions or results to differ materially from those contemplated by the forward-looking information. Some of the factors that could cause such differences include legislative or regulatory developments; financial market conditions, general economic conditions and the ratings assigned to the corporation or its affiliates or their debt securities by rating agencies. The corporation has no obligation nor any intention to update publicly or to revise any of the forward-looking information included in the press release after the date thereof, whether as a result of new information, future events or circumstances or otherwise.

Contact Information

  • Toronto Hydro-Electric System Limited
    Blair Peberdy
    Vice-President, Communications and Public Affairs
    (416) 542-2515
    or
    Toronto Hydro-Electric System Limited
    Pankaj Sardana
    Vice-President, Treasury, Regulatory & Rates
    (416) 542-2707