Message 

REPORT TOOLS

MESSAGE FROM THE CHAIR OF THE BOARD, AND PRESIDENT AND CHIEF EXECUTIVE OFFICER
 

Powering Toronto’s Future. We’re proud that Toronto Hydro is important to the fabric of life in Toronto. Throughout the year, Toronto Hydro worked tirelessly to maintain a safe, reliable electricity system to keep our city thriving. We’re powering Toronto’s future by making much-needed and prudent investments to ensure a strong, stable electrical infrastructure for this world-class city we call home.

Exceeding customers’ expectations – In an effort to provide relief and help make electricity more affordable for our customers struggling to pay their bills, we worked hard to ensure that they were made aware of programs to assist them, such as the Low-Income Energy Assistance Program, the Home Assistance Program and the Ontario Electricity Support Program.

We continued to offer engagement and transaction options allowing customers 24/7 access to our services. We also made improvements to our call centre and outage communications, including the launch of our new Outage Notification program, providing customers with timely outage updates and restoration notices. Overall, electronic engagements increased by 16% and when customers do call, 86% of them have their issues resolved on the first call.

Helping our customers save electricity and better manage their bills is a priority of ours. In 2016, we delivered the largest Conservation and Demand Management savings ever in Ontario – we achieved an estimated energy savings of 273.2 GWh (the equivalent of taking 36,720 homes off the grid).

Recognized as a Sustainable Electricity Company™ by the Canadian Electricity Association (CEA), we pursued strategic projects to eliminate waste and increase efficiency. Our efforts were recognized with the CEA’s 2016 Integrated Approach to Sustainability Award.

Strong financial performance – Once again, Toronto Hydro had a highly successful year, exceeding all of its key performance indicators, resulting in a $151.4 million net income. Toronto Hydro was able to perform strong financially, despite operating in a highly complicated, regulated industry.

Investing in our growing city – We invested $551.7 million to renew our aging infrastructure, address reliability and safeguard our system against extreme weather events. As a result, we’re seeing improvements. Since 2010, the average number of service interruptions has improved by 21% and the average duration of interruptions is down by 26%. However, we recognize that sustained investments are needed and this will remain our focus.

We’re also supporting many other transformational projects happening in the city, including the Metrolinx Eglinton Crosstown Light Rail Transit System, Toronto-York Spadina subway extension and Yorkdale Mall expansion.

Bringing innovative projects to life – We’re focused on promoting innovation while driving toward a smart city through leading edge initiatives that add value to Toronto’s economy and form an integrated, future-looking grid. As thought leaders, we’re engaged in policy development and continue to research and introduce the latest concepts and technologies, while at the same time engaging others to join our efforts. We worked with the city to enable solar projects, specifically installing photovoltaic (PV) panels on municipal buildings, and are getting ready for the electrification of our city, by working diligently to help ensure the growing demand for electric vehicle charging is supported with a capable supply of electricity.

Our collaboration with the Centre for Urban Energy at Ryerson University continued and we unveiled a pole-top energy storage pilot project this year. We also made progress on the construction of the Clare R. Copeland Transformer Station, the second underground transformer station in Canada, by transporting two transformers across the city and installing them at this station. Copeland Station is expected to be completed in 2018 and is an example of when refurbishing aging assets, careful thought is given to integrating innovation for the future.

Prioritizing public and employee safety – In 2016, we achieved five million hours without a lost-time injury and total recordable injuries were 74% lower than our benchmarked peers. We also had the lowest absenteeism rate in our history – 66% lower than the Canadian utilities benchmark. Toronto Hydro was also the proud recipient of a 2016 Electrical Safety Authority award for our public powerline safety campaign.

We’re proud of the progress we’ve made and excited to share more details of our accomplishments, which you can find in the Progress section of this report.

On behalf of the Board of Directors and our management team, we want to thank all of our customers and stakeholders for their continued support. Most importantly, we’d like to thank all Toronto Hydro employees, who make up our hard-working and talented workforce. Toronto Hydro’s achievements are a product of your hard work and unwavering dedication.                                                                                             

 

 

           

David McFadden
Chair

 

 

 

Anthony Haines
President and Chief Executive Officer

 

 

 

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