OTTAWA, June 28, 2017 /CNW/ - Hydro Ottawa Holding Inc. today released its 2016 Annual Report, which showcases the company's strong performance and celebrates the utility's 100 years of service to the community.
Board Chair, Jim Durrell, C.M., and President and Chief Executive Officer, Bryce Conrad, presented the company's 2016 results today before Ottawa City Council.
Hydro Ottawa's core mandate is to continue to provide a safe, reliable, affordable, and sustainable supply of electricity to more than 328,000 homes and businesses that rely upon it every day; and to ensure a more sustainable energy future for its community.
- Hydro Ottawa's 2016 consolidated net income was $34.8 million.
- In accordance with the City Council-approved dividend policy, Hydro Ottawa delivered a dividend payment to the city of $20.6 million on April 28, 2017 that will be used by the City to fund municipal programs and services.
- Hydro Ottawa had its best reliability performance in the last five years, with customers experiencing a decrease to the frequency and duration of power outages.
- To keep its distribution system safe and reliable, Hydro Ottawa invested $65 million in its aging infrastructure to address localized reliability and capacity issues. A further $38 million was invested to expand the system to meet the needs of customers and a growing city.
- Hydro Ottawa acquired the 27 MW Centrale Hull 2 generating station from Hydro Quebec, along with the remaining one-third interest in the Ottawa River ring dam. With this acquisition, the company now owns 100 percent of the generating infrastructure and water rights at the inter-provincial Chaudière site.
- Significant progress was also made on the Chaudière Falls expansion project (the redevelopment and expansion of two stations on the Ontario side of the river). This is the largest capital project in Hydro Ottawa's history – and remains on track for an expected July 2017 completion. When finished, this project will cap a five-fold increase in Hydro Ottawa's generating capacity since 2012 – bringing the total to 128MW and making Hydro Ottawa the largest municipally-owned producer of green power in Canada.
- Hydro Ottawa increased its engagement with customers by extending our service hours, leveraging new communication technologies and channels and began developing a mobile app.
- Hydro Ottawa also continued to be a responsible and engaged corporate citizen by helping customers conserve energy, participating in more than 350 community events, and raising $282,000 for charity.
"It is fitting that we are reaching this (100th year) milestone as Ottawa welcomes the world to the nation's capital to celebrate Canada's 150th year. We're proud to have played our part in building the vibrant and increasingly green and sustainable national capital that will be showcased during the Ottawa 2017 celebrations."
- Jim Durrell, C.M., Chair, Board of Directors
"The essence of Hydro Ottawa's business strategy is to put the customer at the centre of everything we do. We've had the best reliability record in five years thanks to our capital investment program to address aging infrastructure, and we have made significant strides to strengthen our customer experience."
- Bryce Conrad, President and Chief Executive Officer
About Hydro Ottawa
Hydro Ottawa's core businesses are delivering electricity, generating renewable power and providing energy conservation/management services. Hydro Ottawa is a community-owned, private company, delivering electricity to more than 328,000 customers in Ottawa and Casselman. It is the largest municipally-owned producer of green power in the province, with hydroelectric and landfill gas-to-energy generating facilities. Hydro Ottawa Holding Inc. (Hydro Ottawa) owns and operates two subsidiary companies, Hydro Ottawa Limited and Energy Ottawa Inc.
SOURCE Hydro Ottawa Holding Inc.
For further information: Media contact: Daniel Séguin, Manager, Media and Public Affairs, Hydro Ottawa, Tel: 613-738-5499 ext. 345, firstname.lastname@example.org