One Million Smart Meters Installed - Hydro One Networks and Hydro One Brampton Reach Important Milestone


    TORONTO, June 22 /CNW/ - Hydro One Networks and Hydro One Brampton
announced today they have completed the installation of one million smart
meters in the homes and businesses of customers. This is amongst the largest
smart meter deployments by a utility in North America. Hydro One Networks and
Hydro One Brampton commenced smart meter installations in late 2006, in
support of the provincial government's goal to have a smart meter in every
home and small business in Ontario.
    Smart meters, when teamed with time-of-use pricing, will provide a
financial incentive for people to shift some electricity usage from on-peak
(higher cost) periods to off-peak (lower cost) periods. Ontario is introducing
time-of-use rates to help consumers better manage electricity costs and to
contribute to energy conservation by reducing their electricity use during
peak times. Hydro One Networks and Hydro One Brampton customers will start to
convert to time-of-use pricing in 2010.
    "Smart meters, when combined with time of use rates, are central to
creating a culture of conservation in Ontario," said Energy Minister George
Smitherman. "They provide real time information, helping Ontario consumers
make smart decisions about how and when they use electricity. The rates
reflect the reality that electricity costs the most when demand is highest.
Shifting electricity use to low demand times can help consumers manage their
energy costs."
    "Smart meters will provide our customers with opportunities to
participate in time-of-use and other electricity demand management initiatives
and collectively, make a significant contribution to energy conservation for
this province," said Laura Formusa, President and CEO of Hydro One. "We are
pleased to have reached this important smart meter milestone and to support
the Province's smart meter initiative."
    "Smart meters and time-of-use pricing will make wholesale changes to how
and when our customers use their electricity," said Roger Albert, President
and CEO of Hydro One Brampton. "Giving our customers the tools to make smart
energy use decisions is one of the most powerful ways to help this province
reach its green potential."
    Approximately 400,000 more Hydro One customers are scheduled to have
their smart meters installed. As smart meters are installed and communications
established, Hydro One will switch customers to automated meter reading, thus
reducing the need to access customers' properties, eliminating estimated
billing, and reducing vehicle emissions associated with reading meters
manually across Hydro One's huge service territory. Both Hydro One Brampton
and Hydro One Networks are well on their way to reading some meters remotely
and are already saving costs associated with meter reading.

    Hydro One delivers electricity safely, reliably and responsibly to homes
and businesses across the province of Ontario and owns and operates Ontario's
29,000 kilometre high-voltage transmission network that delivers electricity
to large industrial customers and municipal utilities, and a 123,000 kilometre
low-voltage distribution system that serves about 1.3 million end-use
customers and smaller municipal utilities in the province. Hydro One is wholly
owned by the Province of Ontario.

    FORWARD-LOOKING STATEMENTS AND INFORMATION

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often contain forward-looking statements that are based on current
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industry in which we operate and include beliefs and assumptions made by the
management of our company.  Such statements include, but are not limited to:
expectations regarding developments in the statutory and operating framework
for electricity distribution and transmission in Ontario including changes to
codes, licenses, rates, rate orders, cost recovery, rates of return, rate
structures and revenue requirements in both our transmission and distribution
businesses and the timing of decisions from the OEB; expectations regarding
our financing activities; statements regarding the pension asset transfer;
statements regarding future capital expenditures and our investment plans;
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future pension contributions; the estimated impact of  the changes in the
forecast long-term Government of Canada bond yield (used in determining our
regulated rate of return) on our results of operations; and statements about
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involve assumptions and risks and uncertainties that are difficult to predict.
 Therefore, actual outcomes and results may differ materially from what is
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not intend, and we disclaim any obligation to update any forward-looking
statements, except as required by law. These forward-looking statements are
based on a variety of factors and assumptions including, but not limited to
the following: no unforeseen changes in the legislative and operating
framework for Ontario's electricity market; no unfavourable decisions from the
OEB and other regulatory bodies concerning outstanding rate and other
applications; no unforeseen changes in rate orders or rate structures for our
distribution and transmission businesses; a stable regulatory environment; and
no significant event occurring outside the ordinary course of business. These
assumptions are based on information currently available to us, including
information obtained from third party industry analysts. Actual results may
differ materially from those predicted by such forward-looking statements.




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