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    H   CA4488112083

HYDRO ONE LIMITED

(H)
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Delayed Toronto Stock Exchange  -  04:15 2022-07-04 pm EDT
34.64 CAD   +0.09%
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06/30Hydro One earns 12th Emergency Response Award from Edison Electric Institute
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06/22Hydro One celebrates recipients of the Leonard S. (Tony) Mandamin Scholarship
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Severe thunderstorms cause significant damage to Hydro One's electricity system across southwestern, central and eastern Ontario

05/21/2022 | 11:31pm EDT

-  Crews work to rebuild the grid in hardest hit areas  -

TORONTO, May 21, 2022 /CNW/ - More than 351,000 Hydro One customers currently are experiencing power outages caused by the severe thunderstorms that quickly moved across the province today. The initial damage being reported is significant and includes hundreds of broken poles, several downed transmission towers, fallen trees and broken limbs along with many downed power lines. Outages on the company's transmission system are also affecting other electricity providers.

"The storm has caused extensive damage across the province and we anticipate it will take multiple days to restore power to all customers. We know life grinds to a halt without electricity and we have mobilized every available resource to restore power as quickly and safely as possible for our customers," said Jason Fitzsimmons, Chief Corporate Affairs and Customer Care Officer. "We appreciate everyone's patience as we work to restore power as quickly as possible."  

The company has mobilized crews from across the province to assist with rebuilding the grid in the hardest hit areas and is seeking assistance from other utilities and contactors. At this time the company anticipates it will take several days to restore power to all customers due to the extent of the damage.

Customers can report their outage by texting 92887 (WATTS), online, through the company's outage map and app, or by calling 1-800-434-1235. An estimated time of restoration will be assigned to each outage as damage is assessed. Customers can view the current status of their outage here.

It is critical to stay at least 10 metres back from a fallen power line, even if it does not appear to be live. Report it to the police and call Hydro One at 1-800-434-1235 or report it online or through the company's free outage app.

Hydro One Limited (TSX: H)

Hydro One Limited, through its wholly-owned subsidiaries, is Ontario's largest electricity transmission and distribution provider with approximately 1.5 million valued customers, approximately $30.4 billion in assets as at December 31, 2021, and annual revenues in 2021 of approximately $7.2 billion.

Our team of approximately 9,300 skilled and dedicated employees proudly build and maintain a safe and reliable electricity system which is essential to supporting strong and successful communities. In 2021, Hydro One invested approximately $2.1 billion in its transmission and distribution networks, and supported the economy through buying approximately $1.7 billion of goods and services.

We are committed to the communities where we live and work through community investment, sustainability and diversity initiatives. We are designated as a Sustainable Electricity Company by the Canadian Electricity Association

Hydro One Limited's common shares are listed on the TSX and certain of Hydro One Inc.'s medium term notes are listed on the NYSE. Additional information can be accessed at www.hydroone.com, www.sedar.com or www.sec.gov.

Our website is www.HydroOne.com.
Follow us on facebook.com/hydrooneofficialtwitter.com/hydroone and instagram.com/hydrooneofficial

SOURCE Hydro One Inc.

© Canada Newswire, source Canada Newswire English

All news about HYDRO ONE LIMITED
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Analyst Recommendations on HYDRO ONE LIMITED
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Financials
Sales 2022 7 666 M 5 949 M 5 949 M
Net income 2022 997 M 774 M 774 M
Net Debt 2022 14 699 M 11 407 M 11 407 M
P/E ratio 2022 20,9x
Yield 2022 3,20%
Capitalization 20 739 M 16 094 M 16 094 M
EV / Sales 2022 4,62x
EV / Sales 2023 4,59x
Nbr of Employees 6 260
Free-Float 52,8%
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Mean consensus OUTPERFORM
Number of Analysts 15
Last Close Price 34,64 CAD
Average target price 35,80 CAD
Spread / Average Target 3,35%
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Managers and Directors
William Herbert Sheffield President, Chief Executive Officer & Director
Christopher Lopez Chief Financial Officer
Timothy E. Hodgson Chairman
Brad Mitchell Bowness Vice President-Transmission & Stations
David Lebeter Chief Operating Officer
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