Toronto Hydro advances customer solutions, infrastructure modernization and system resilience to support Toronto's evolving energy needs

TORONTO, Nov. 10, 2026 /CNW/ -- Toronto Hydro Corporation (Toronto Hydro) today announced its financial and operating results for the third quarter ended September 30, 2026.

Net income after net movements in regulatory balances for the nine months ended September 30, 2026, was $170.7 million, down $7.4 million from the same period last year. The decrease was primarily due to revenue recognized in 2025 from one-time streetlighting contributed assets.

Capital expenditures for the nine months ended September 30, 2026, were $690.2 million, a decrease of $29.5 million compared to the same period last year. Key capital investments have included the delivery of more than 3,300 customer connections, replacement of overhead infrastructure, needs-driven capital work, and customer-initiated asset relocations and expansions, including work supporting major city‑building and economic development projects such as a battery energy storage facility providing emergency backup power for the Eglinton Crosstown LRT, expanded electrical infrastructure at the Jack Layton Ferry Terminal in support of Canada's first custom-made all-electric ferries and electric bus charging infrastructure supporting the TTC's fleet electrification efforts.

THIRD QUARTER PERFORMANCE HIGHLIGHTS

Financial Performance and Developments

• On August 25, Toronto Hydro's $200.0 million Series 12 debentures matured and were repaid.
• On October 7, Toronto Hydro successfully issued $300.0 million of senior unsecured debentures.
• On November 10, Toronto Hydro's Board of Directors declared a dividend of $10.0 million with respect to the fourth quarter of 2026, which is payable to the City of Toronto by December 31, 2026, in accordance with its Shareholder Direction to support Toronto Hydro's ability to invest in the local electrical distribution grid.

Operational Performance and Developments

Safety

• From September 2–7, Toronto Hydro responded to a severe storm that impacted the city, safely restoring power to more than 61,000 customers at its peak, including more than 90 per cent by September 3. Over the course of the storm event, Toronto Hydro responded to more than 1,500 outage events, processed more than 8,900 dispatch calls and 200 forestry calls, addressed a high volume of public safety incidents, and carried out extensive forestry and system repair work across the city.
• Toronto Hydro, together with partners including the City of Toronto and Exhibition Place, received the inaugural Electrical Safety Partnership Award from the Electrical Safety Authority in recognition of the collaborative work undertaken to safely support the electrical needs of the FIFA World Cup 2026™ in Toronto.

Customer

• Toronto Hydro helped customers manage electricity costs through affordability programs, supporting over 41,000 customers through the Ontario Electricity Support Program and providing access to over $210,000 of emergency funding to nearly 400 customers through the Low-income Energy Assistance Program.
• Toronto Hydro continued to support customers through an expanded suite of energy-management offerings, delivering more than 75 personalized energy-coaching sessions, advancing its multiplex smart load management and EV fast charging pilot programs, connecting with more than 100 Toronto businesses interested in energy solutions, and collaborating with the Independent Electricity System Operator to raise awareness of its Peak Perks Save on Energy incentive program.
• Toronto Hydro continued to evolve its service offerings for customers, including by launching a new energy usage tracker that gives commercial interval-metered customers, residential net metering and small commercial customers convenient access to their electricity usage data.

Operations

• Toronto Hydro continued to modernize the infrastructure serving its customers, surpassing 50 per cent completion of its meter replacement program for residential and small business customers and initiating the installation of energy-efficient LED streetlights as part of its streetlighting modernization program.
• On October 15, Toronto Hydro was recognized with the Ontario Energy Association's Innovation Award in recognition of the organization's sustained leadership in advancing the capabilities, partnerships and operational experience needed to support Ontario's evolving electricity grid.
• On August 14, Toronto Hydro filed its 2027 rate application seeking the Ontario Energy Board's approval of Toronto Hydro's distribution rates and other charges for 2027.

Community

• Toronto Hydro raised more than $800,000 for Sunnybrook's Ross Tilley Burn Centre through its 2026 Annual Charity Golf Tournament to support critical burn treatment research and patient care and was honoured with the 2026 Sunnybrook Rose Award for Corporate Partner in recognition of more than a decade of support for the centre.
• In recognition of Orange Shirt Day and the National Day for Truth and Reconciliation, Toronto Hydro hosted an employee learning event to build awareness of the lasting impacts of residential schools and partnered with the Orange Shirt Society, Anish Branding and Ontario-based Indigenous artist Patrick Hunter to provide custom Orange Shirts for employees, with all proceeds supporting the Orange Shirt Society.

QUICK FACTS

• Toronto Hydro continues to invest in expanding, modernizing and sustaining the foundations of a safe, resilient and sustainable grid to serve the current and future electricity needs of Toronto. For more information about Toronto Hydro's 2025–2029 investment plan, please visit torontohydro.com/investmentplan
• Toronto Hydro's dividends to its sole shareholder, the City of Toronto, provide funding that may be used to support City services and priorities that benefit Torontonians
• Toronto Hydro's financial and operational results are reported quarterly and available at torontohydro.com/reports and through sedarplus.ca

QUOTE

"Toronto Hydro's third-quarter results reflect our continued focus on delivering for customers through operational resilience, strategic investment and meaningful customer outcomes. During the quarter, we advanced critical infrastructure projects, supported customers through affordability and energy-management programs, enhanced customer tools and services, and responded to a significant storm event that impacted communities across Toronto. As we close out the year, we remain focused on advancing key priorities, strengthening Toronto's electricity system, and laying the groundwork for sustained service excellence for our customers and city."

- Jana Mosley, President and CEO, Toronto Hydro

ABOUT TORONTO HYDRO

Toronto Hydro Corporation is the holding company for Toronto Hydro-Electric System Limited, which owns and operates Toronto's electricity distribution system, and Toronto Hydro Energy Services Inc., which provides and maintains street and expressway lighting infrastructure throughout the city. Collectively, Toronto Hydro powers Canada's largest city through delivering electricity and related energy solutions to more than 3 million people and businesses, safely, reliably and sustainably.

With the dedication of our skilled employees and partners, we're electrifying communities today and building a brighter tomorrow by investing in a modern, capable and resilient distribution grid and delivering value to our customers and sole shareholder, the City of Toronto. For more information, visit torontohydro.com, or follow us on X, Instagram, Facebook, TikTok, YouTube and LinkedIn.

FORWARD-LOOKING INFORMATION

Certain information included in this news release constitutes "forward-looking information" within the meaning of applicable securities legislation. All information, other than statements of historical fact, which address activities, events or developments that we expect or anticipate may or will occur in the future, are forward-looking information. The words "anticipates," "believes," "budgets," "continual," "could," "estimates," "expects," "intends," "may," "ongoing," "outlook," "plans," "seek," "will," or the negative or other variations of these words or other comparable words or phrases, are intended to identify forward-looking information, although not all forward-looking information contains these identifying words. The purpose of the forward-looking information (including any financial outlook) contained herein is to provide Toronto Hydro's current expectations regarding its future results of operations, performance, business prospects and opportunities, and readers are cautioned that such information may not be appropriate for other purposes. All forward-looking information is given pursuant to the "safe harbour" provisions of applicable Canadian securities legislation.

Specific forward-looking information in this news release includes, but is not limited to, statements regarding the payment of dividends to the City of Toronto and Toronto Hydro's continuing investments in its grid, including those outlined in its five-year investment plan, and expectations regarding the investment to modernize Toronto's streetlighting system, including anticipated benefits and timing of implementation. The forward-looking information reflects Toronto Hydro's current beliefs and is based on information currently available to Toronto Hydro. Forward-looking information is subject to risks, uncertainties and other factors that could cause actual results to differ materially from historical results or results anticipated by the forward-looking information. For information on Toronto Hydro's risks, uncertainties and other factors that could cause actual events or results to differ materially from those described in forward-looking information, refer to the "Risk Management and Risk Factors" section of Toronto Hydro's Management's Discussion and Analysis for the years ended December 31, 2025 and 2024, available at torontohydro.com/reports and through sedarplus.ca.

All forward-looking information in this document is qualified in its entirety by the above cautionary statements. Furthermore, unless otherwise stated, all forward-looking information contained herein is made as of the date hereof, and Toronto Hydro undertakes no obligation to revise or update any forward-looking information as a result of new information, future events or otherwise, except as required by law.

SOURCE Toronto Hydro Corporation