Author: susan

OTTAWA – Today, Hydro Ottawa Holding Inc. presented its 2023 Annual Report, highlighting successes in enabling sustainable energy solutions for customers, preparing for and responding to extreme weather events, and maintaining a safe and reliable supply of electricity.

Board Chair, Bernie Ashe, and President and Chief Executive Officer, Bryce Conrad, presented the company’s 2023 results during the Annual General Meeting today before Ottawa City Council. They also provided an update on the company’s portfolio of locally-based clean energy project partnerships, ongoing efforts to boost grid resilience in the face of increasingly frequent severe weather events, and plans for investing in distribution system infrastructure over the coming years to support the city’s growth and increased electrification of the economy.

Hydro Ottawa’s core mandate remains unchanged: to provide a safe, reliable supply of electricity to approximately 364,000 residential and commercial customers that rely upon the company every day; and to ensure a more sustainable energy future for its community.

Quick Facts

• Hydro Ottawa’s 2023 consolidated net income was $24.1 million.

• In accordance with the City Council-approved dividend policy, Hydro Ottawa’s dividend payment to the City will be $20 million this year, which will be used by the City to fund municipal programs and services. 

• Despite the impacts of extreme weather events, Hydro Ottawa’s maintained high levels of service reliability and achieved its second best-ever outage frequency result. On average, Hydro Ottawa customers had power 99.92 per cent of the time.

• As part of its focus on improving emergency preparedness and response, Hydro Ottawa introduced outage alert notifications to customers via text message and email, along with a new online outage map with enhanced functionality.

• Hydro Ottawa announced a partnership with The Ottawa Hospital to design and develop an energy-efficient central utility plant for its new Civic Campus. The plant will sustainably power the state-of-the-art facility and help minimize its carbon footprint.

• Portage Power, the company’s renewable energy subsidiary, was awarded a 20-year contract for Renewable Energy Certificates from the New York State Energy Research and Development Authority, through the State’s Renewable Energy Standard program.

• Envari, the company’s energy and utility services business, continued to advance its signature carbon-reduction partnerships: supporting OC Transpo with transitioning to a zero-emission bus fleet and assisting the Ottawa International Airport Authority in reducing its energy consumption and environmental footprint.

• To help enable a smart and connected National Capital Region, Hydro Ottawa publicly launched its new telecommunications affiliate, Hiboo Networks, which will provide fiber optic network solutions to businesses and institutions in Ottawa and Gatineau.

• Hydro Ottawa achieved a 91 per cent overall customer satisfaction score and maintained the highest e-billing participation rate among Ontario distribution utilities (65 per cent).

• The journey towards becoming the first municipally-owned utility in Canada to achieve net-zero operations continued with the procurement of additional electric vehicles (EVs) for field crews, the installation of EV chargers at work centres, and the launch of environmental assessment and public consultation processes for the Piperville Municipal Transformer Station, which is being developed using low-carbon design and construction techniques.

• During an 84-day labour strike, Hydro Ottawa successfully executed its contingency plans for maintaining service to customers and mobilizing additional resources to assist with outage restoration.

• Hydro Ottawa’s employee-driven charitable campaign raised more than $142,000 for United Way Eastern Ontario and $53,000 for the Royal Ottawa Prompt Care Clinic. In addition, sponsorships and donations totalling $102,000 were contributed through the Community Investment Program to local organizations supporting vulnerable groups and seeking to build stronger and healthier communities.

 

Quotes

“In 2023, Hydro Ottawa once again demonstrated that we will deliver on our mission to provide safe, reliable electricity, no matter what challenges come our way. In the face of extreme weather events, significant economic pressures and a labour strike, the company pushed forward and never wavered in its commitment to being there for the residents and businesses who depend on us. I’m proud of how the team has emerged stronger, with our attention firmly fixed on the exciting opportunities ahead for adopting more sustainable ways of using energy.”

-Bernie Ashe, Chair, Board of Directors

“More and more, overcoming adversity and adapting to change are key watchwords for Hydro Ottawa. Not only did we navigate a landscape of continuous challenges in 2023, we did so while pursuing new opportunities aimed at accelerating the transition to a more sustainable future. Building on the lessons and accomplishments of the past year, we’re more focused than ever on being a trusted partner and solutions provider for our customers and community.”

-Bryce Conrad, President and Chief Executive Officer

 

Media contact:

Susan Fekete
Manager, Media and Public Affairs
Hydro Ottawa Holding Inc.
[email protected]

OTTAWA – Hydro Ottawa Holding Inc. (“Hydro Ottawa”) today announced that further to its consent solicitation announced on May 21, 2024, holders (the “Debentureholders”) of 88.94% of the aggregate principal amount of the four series of its outstanding Canadian dollar senior unsecured debentures (the “Debentures”), as listed in the table below, have delivered consents to approve the Debenture Amendments (as described in the consent solicitation statement dated May 21, 2024 (the “Consent Solicitation Statement”)).

Title of Series of Debentures	CUSIP/ISIN
2.614% Series 2015-1 Debentures due 2025	44882CAD6 / CA44882CAD61
3.639% Series 2015-2 Debentures due 2045	44882CAE4 / CA44882CAE45
3.991% Series 2013-1 Debentures due 2043	44882CAC8 / CA44882CAC88
4.968% Series 2006-1 Debentures due 2036	44882CAB0 / CA44882CAB06

 

As described in the Consent Solicitation Statement, given that Debentureholders representing not less than 66 2/3% of the aggregate principal amount of the Debentures have delivered valid consents consenting to the approval of the Debenture Amendments, the meeting of Debentureholders, which was originally scheduled at 10:00 a.m. (EDT) on June 17, 2024, has been cancelled.

Hydro Ottawa will make arrangements for the payment of the applicable review fees to the Tabulation Agent (TSX Trust Company) for distribution to the Debentureholders who delivered valid responses as contemplated by the Consent Solicitation Statement.

Hydro Ottawa intends to implement the Debenture Amendments once all required approvals for the Corporate Reorganization described in the Consent Solicitation Statement are obtained, including approval of the Ontario Energy Board. The exact timing for implementing (if at all) the Debenture Amendments will be determined by Hydro Ottawa in its sole discretion. Hydro Ottawa reserves the right to not to give effect to the Debenture Amendments for any reason. Hydro Ottawa currently expects the Corporate Reorganization to take effect on or about October 1, 2024, subject to the receipt of required approvals as described in the Consent Solicitation Statement.

This press release is for informational purposes only and does not amend the consent solicitation, which has expired and was made solely on the terms and subject to the conditions set forth in the Consent Solicitation Statement. Further, this press release does not constitute an offer to sell or the solicitation of an offer to buy the Debentures or any other securities. Copies of the Consent Solicitation Statement may be obtained from TMX Investor Solutions Inc., the Information Agent for the consent solicitation, by email at [email protected].

Any persons with questions regarding the consent solicitation should contact the Solicitation Agent (Scotia Capital Inc.) or Information Agent (TMX Investor Solutions Inc.) as follows:

 

SCOTIA CAPITAL INC.
40 Temperance Street
Toronto, Ontario M5H 0B4
Attention: Scotiabank Debt Syndication
Telephone: 416-863-7438
Email: [email protected]

TMX Investor Solutions Inc.
301 – 100 Adelaide Street West
Toronto, Ontario M5H 1S3
Toll Free in North America: 1(866) 796-6867

 

About Hydro Ottawa Holding Inc.

 Hydro Ottawa Holding Inc. (Hydro Ottawa) is a private company wholly owned by the City of Ottawa. Our core businesses include electricity distribution, renewable energy generation, energy solutions, telecommunications and utility services.

Caution Concerning Forward-Looking Statements

 This document may include certain forward-looking information and forward-looking statements within the meaning of applicable securities laws. These statements include statements relating to the Debenture Amendments and the Corporate Reorganization and are based on management’s current expectations or beliefs, and are subject to uncertainty and changes in circumstances. Actual results, including the timing of the Corporate Reorganization, may vary materially from those expressed or implied by the statements herein due to changes in economic, business, competitive, technological, strategic and/or regulatory factors, industry structure and stability, and other factors affecting the operations of Hydro Ottawa.

For more information:

Hydro Ottawa Media Relations

[email protected]

613-738-5499 ext. 2345

The future is now. 

As the climate continues to rapidly change, we’re seeing consumers move towards carbon-free lifestyles – which means their investments are too. 

With the world looking to transition to a greener economy, more and more businesses are taking action against climate change. Net-zero commitments are becoming the norm – not only for governments, but for businesses of all sizes and industry as well.

In November 2021, in the lead up to COP26, the City of Ottawa and other local partners across our city joined the United Nations Race to Zero campaign, a global coalition of cities, businesses, and institutions to enact climate action.

Then in August 2022, the Government of Canada announced their net-zero challenge  –  a voluntary initiative open to all businesses in Canada that encourages the development and implementation of credible and effective plans to transition their facilities and operations to net-zero emissions by 2050.

As Tim Fargo, american author, investor and entrepreneur put it, “Good intentions might sound nice, but it’s positive actions that matter.”

Moving from ambition to action is where the real potential lies to earn brand loyalty, appeal to new eco-conscious consumers and increase profitability.  

One for sustainability

For more than a decade, Hydro Ottawa Holding Inc. (Hydro Ottawa) has been on a journey of balancing growth with environmental protection and social responsibility, and a hallmark of their evolution has been a commitment to sustainability and Environmental, Social and Governance (ESG) performance.

Not only do they have an environmental management system and corporate social responsibility program in place, they are also a customer-centric organization that actively connects with stakeholders, supports community initiatives and conducts grass-roots outreach programs aimed at engaging youth and offering energy-efficiency solutions to their customers.

So it made sense when on December 15, 2021, Hydro Ottawa’s Board of Directors announced the acceleration of their transition to net-zero operations by 2030; a first for any municipally-owned utility company in Canada. 

At the time, Hydro Ottawa President and CEO Bryce Conrad said, “You can’t wait for billionaires, governments or anyone else to act. You have to take responsibility for your own operations and impact on the environment.”

Reaching that goal will take every ounce of innovation and ingenuity the utility has to get there. And they’re making progress. “We know this is a big undertaking,” reflects Conrad,“but we also know it’s what’s best for our growing city, and for our customers. And we know that we can do this by joining our collective efforts.”

To ensure they have the scale, financial capacity, and culture of innovation necessary to deliver on this agenda, their strategy includes a continued focus on strategic business growth within  core areas of strength.  Their growth agenda involves four basic components:

• Electricity distribution: expanding their grid to accommodate new customers and continuing to evaluate opportunities to increase their service territory;
• Renewable generation: increasing the supply of clean energy for customers and earnings for their shareholder by making smart investments in renewable generation; 
• Energy solutions: providing innovative and sustainable solutions to help consumers, businesses, public sector agencies, and communities meet their energy objectives; and 
• Utility services: leveraging their assets and expertise to help other utilities to enhance the value they provide, creating new revenue streams and economies of scale.  
• In addition to their own net-zero journey, over the coming years and months, the utility will be strengthening their role as a leading partner, a trusted energy provider and an enabler of change. 

One for change 

Preparing for the future, municipalities need innovative solutions to help modernize while also reducing greenhouse gas emissions. From LED street lights to energy-efficient retrofits and self-cooling buildings to EV chargers and electric public transportation, investing in partnerships can provide positive outcomes and the biggest carbon-mitigation return on investment and accelerate inclusive clean energy transitions.

In partnership with Zibi Canada and Kruger Products, Hydro Ottawa completed the construction and commissioning of the district energy plant which will provide zero-carbon heating and cooling to the Zibi community in downtown Ottawa and Gatineau.

They have also entered into an agreement with the Ottawa International Airport Authority to review GHG reduction projects and support the airport’s commitment to achieve net zero operations.

For large scale projects, feasibility studies form the foundation of success – providing insights on the economic, technical, financial, legal and environmental considerations. 

For others, climate action planning starts with setting targets, measuring and reporting greenhouse gas emissions, assessing electric vehicle readiness or building automation systems and lighting solutions.

Fortunately for businesses of all sizes, a range of incentive and financing programs exist to reduce investment barriers to complete deep carbon reductions and become future ready.

Together, Hydro Ottawa and its affiliates are powering as one – building a sustainable, resilient, and vibrant future for the communities where their customers live, work and play.

This article first appeared in the Fall 2022 edition of Capital Magazine.

 

OTTAWA – Today, Hydro Ottawa Holding Inc. is once again leading the way to a smart energy future. Through its subsidiary Portage Power, it has acquired two additional hydroelectric generating stations from TransAlta Renewables located on the Mississippi River in the Town of Appleton and Galetta Falls.

With a passion for environmental sustainability, Portage Power is the largest municipally-owned producer of green power in the province of Ontario. Including the addition of these two generating stations, the company will now own and operate 18 run-of-the-river hydroelectric generation plants in Ontario, Quebec and New York in addition to the 16 solar installations it has across the city of Ottawa.

The Appleton Generating Station (GS) is located on the Mississippi River, in the town of Appleton, Ontario. The plant was built in 1994 on the site of an old mill and consists of a powerhouse building, intake channel and control dam.

The Galetta (GS) is located near Almonte, Ontario on the Mississippi River where it connects with the Ottawa River. Originally built in 1907, the plant consists of a control dam, intake canal, powerhouse and tailrace channel.

Both new facilities are EcoLogo^M certified by the Environmental Choice Program.

Together these facilities generate an average of 12.5 gigawatt hours annually, increasing Portage Power’s total green generation capacity from 128 to 131 megawatts, enough to power approximately 110,000 homes.

Quick Facts

• Hydro Ottawa owns and operates three primary subsidiaries: Hydro Ottawa Limited, which distributes electricity across the nation’s capital; Portage Power is Ontario’s largest municipally-owned producer of green power, with hydroelectric, solar and landfill gas-to-energy facilities; and Envari Energy Solutions Inc., which is performing two critical projects for the City of Ottawa: the four-year, $57.2 million cogeneration system upgrade at Ottawa’s wastewater collection and treatment plant, and the installation of EV charging infrastructure for the City of Ottawa’s first set of electric buses.
• Hydroelectric stations provided approximately 23 per cent of Ontario’s electricity generation in 2020. On average this hydroelectric power is the lowest-cost electricity in Ontario and supports Ontario’s clean energy advantage.
• Hydroelectric facilities have minimal impact on the environment because they produce zero waste, zero carbon emissions, and zero greenhouse gasses. Instead they rely on the natural flow of their water source, and can generate power 24 hours a day, seven days a week, all year long.

Quotes

“Given the inextricable link between energy and the environment, how energy is produced matters. This acquisition aligns us with Canada’s goal of a 100 per cent emissions-free electrical grid by 2035 and takes us one step closer to our net-zero operations goal. Investing in green energy will help us build a brighter and more sustainable future for the communities we serve.”

 – Bryce Conrad, President and Chief Executive Officer, Hydro Ottawa Holding Inc.

 

Media contact:

Josée Larocque
Manager, Media and Public Affairs
Hydro Ottawa Holding Inc.
Tel: 613-738-5499 ext. 2345
[email protected]

 

 

OTTAWA – Today, Hydro Ottawa released its After the storm report, a response to the May 2022 derecho.

The report evaluates the company’s response to the event, costs, challenges, business continuity plans and areas for improvement.

With an expected increase in more frequent and extreme weather events resulting from climate change, Hydro Ottawa is integrating learnings from the derecho and focusing efforts on both the grid and their emergency response plans to ensure scalability across their people, process and technology.

Overall, Hydro Ottawa’s core mandate remains the same: to provide a clean, safe and reliable supply of electricity to approximately 353,000 homes and businesses that rely upon it every day, and to ensure a more sustainable energy future for its community.

Quick Facts

• On May 21, 2022, Ottawa experienced winds of up to 190 kilometres per hour, extensively damaging Hydro Ottawa’s electrical grid.
• Unlike previous storms, damage and power outages impacted Hydro Ottawa’s entire service territory.
• There were a total of 1,000 individual outages on the system (in comparison to 200 after the 2018 tornadoes) and more than 1,500 known or reported tree contacts or interferences.
• At the peak of the aftermath, 180,000 Hydro Ottawa customers were without power – more than half of the company’s customer base.
• Total damages in Ontario are estimated at $720 million, making this the sixth costliest weather event in Canadian history in terms of insurance claims.
• This storm cost Hydro Ottawa an estimated $23.8 million.

 

Quote

“We know that electricity is vital to our economy, public health and safety. Because of their interconnectedness, utilities and municipalities must work together to scale up solutions that can build and maintain our community’s resilience, while being cost-effective for our customers. We are committed to working with our shareholder and community partners to strengthen our collective emergency response.”

– Bryce Conrad, President and Chief Executive Officer

 

Media contact:

Josée Larocque
Manager, Media and Public Affairs
Hydro Ottawa Holding Inc.
Tel: 613-738-5499 ext. 2345
[email protected]