Hydro Ottawa releases 2017 Annual Report
Ottawa – Hydro Ottawa Holding Inc. has released its 2017 Annual Report, which showcases the company’s strong performance and celebrates the completion of its Chaudière Falls expansion project.
Board Chair, Jim Durrell, ICD.D, and President and Chief Executive Officer, Bryce Conrad, presented the company’s 2017 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 approximately 332,000 homes and businesses that rely upon it every day; and to ensure a more sustainable energy future for its community.
“We are proud of the company’s achievements in 2017; a year in which we energized our newest hydroelectric facility and strengthened our customer engagement and service offerings including a mobile app to increase customer convenience and control,” states Durrell.
- Hydro Ottawa’s 2017 consolidated net income was $36 million.
- In accordance with the City Council-approved dividend policy, Hydro Ottawa delivered a dividend payment to the city of $21.9 million that will be used by the City to fund municipal programs and services.
- Despite significant storm and other weather events in 2017, Hydro Ottawa’s service reliability remained among the best in Ontario, with 0.8 average customer outages per year. The five-year trend remains extremely positive, with the frequency of outages down by 41 per cent and the duration of outages falling by 27 per cent, compared to 2013.
- The Chaudière Falls expansion project, the largest capital project in Hydro Ottawa’s history, was completed on time and on budget in July 2017. The new facility will generate enough clean, renewable energy to power 20,000 homes and reduce greenhouse gas emissions by 115,000 metric tons of CO2 per year. This solidifies Hydro Ottawa’s position as the largest municipally-owned producer of green power in Ontario.
- Hydro Ottawa increased its engagement with customers by expanding service hours, enhancing self-service options, and launching of a new mobile app that increases customer convenience and control. The mobile app allows customers to view and manage their energy consumption and receive real-time outage information on the go.
- Hydro Ottawa’s employee-driven charitable campaign raised more than $370,000 with funds directed to support both the Breast Health Centre at The Ottawa Hospital and United Way Ottawa.
- Hydro Ottawa also continued to be a responsible and engaged corporate citizen by helping customers conserve energy, participating in more than 465 community events.
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 approximately 332,000 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.
For more information, visit www.hydroottawa.com.