Ontario Energy Board Approves Hydro One application for adjustments to Uniform Transmission Rate Schedule

    TORONTO, Sept. 2 /CNW/ - Hydro One announced today that the Ontario
Energy Board (OEB) issued a decision and rate order on an application by Hydro
One Networks Inc., which sought adjustments to the Ontario Uniform
Transmission Rate Schedules. The Ontario Uniform Transmission Rate Schedules
were previously adjusted by the Board in its Ontario Uniform Transmission Rate
Order of October 17, 2007.
    The Uniform Transmission Rates adjustment approved by the OEB will allow
the Company to recover revenues consistent with the Board-approved 2008
revenue requirement, commencing January 1, 2009. This adjustment provides for
a 9.2% increase from the current transmission rates, resulting in an
approximately 1% total bill impact for the typical customer.
    A copy of the decision is available on the OEB's website at

    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 122,000 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.


    Our oral and written public communications, including this document,
often contain forward-looking statements that are based on current
expectations, estimates, forecasts and projections about our business and the
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;
expectations regarding the results of our projects; statements regarding
future pension contributions; the estimated impact of 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 IFRS. Words
such as "expect," "anticipate," "intend," "attempt," "may," "plan," "will",
"believe," "seek," "estimate," and variations of such words and similar
expressions are intended to identify such forward-looking statements. These
statements are not guarantees of future performance 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 statements. We do 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.

For further information:

For further information: contact Hydro One Media Relations 24 hours a
day at 1-877-506-7584 (toll-free in Ontario only) or (416) 345-6868; Our Web
site is www.HydroOne.com

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