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Toronto Hydro 2014 CR Report_FINAL

Investing in our distribution grid Last year, we executed the largest capital program in our history, investing approximately $585.5 million in capital expenditures, primarily in infrastructure upgrades. That’s up from the $445.7 million that we spent in 2013. The increase in regulated capital expenditures was primarily related to spending on: • Underground and overhead infrastructure • Copeland Transformer Station • Facilities Consolidation program • Customer connections The following table summarizes Toronto Hydro Corporation’s capital expenditures for the periods indicated. YEAR ENDED DECEMBER 31 (IN MILLIONS OF $) 2014 2013 Regulated local distribution company Distribution system Planned Reactive Copeland Station Facilities Consolidation Technology assets Other1 $ $ 357.6 39.0 82.1 70.8 18.6 17.4 330.7 36.1 45.3 8.6 17.1 7.9 Other2 585.5 2.9 445.7 4.7 Total Capital Expenditures 588.4 450.4 1 Includes fleet capital and buildings. 2 Includes unregulated capital expenditures primarily related to equipment of Toronto Hydro Energy Services Inc. Powering growth Toronto is the fourth largest city by population in North America and is a continued leader in high rise development. While we recognize that we play an important role in this growth, the volume of construction is a challenge to maintaining our system’s performance — especially in the downtown core where Toronto Hydro’s stations are approaching their maximum capacity. We’re working to expand the capacity of our stations and feeders to address this challenge and to accommodate this growth. In addition to connecting new customers to the grid, we’re enabling construction projects initiated by the City of Toronto, the TTC, Metrolinx and GO Transit through the expansion or relocation of our distribution equipment. 22 TORONTO HYDRO 2014 CORPORATE RESPONSIBILITY REPORT


Toronto Hydro 2014 CR Report_FINAL
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