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Toronto-based Hydro One files $37B five-year grid investment plan with Ontario Energy Board
Ontario's largest electricity utility filed its 2028–2032 Joint Rate Application on Oct. 7, proposing roughly $37 billion in transmission and distribution investment to meet rising demand and replace aging infrastructure.
Why it matters
This is Hydro One's largest-ever five-year investment proposal and will shape Ontario's grid buildout and electricity rates through 2032. The company says the plan reflects feedback from more than 100,000 customers across the province.
Full report
Hydro One Networks Inc. filed its 2028–2032 Joint Rate Application with the Ontario Energy Board (OEB) on October 7, proposing roughly $37 billion in investment in its transmission and distribution systems. If approved, the plan would add transmission capacity for about 6,000 megawatts of new electricity — enough for the equivalent of five million homes — modernize about 1,400 kilometres of transmission lines, and replace or refurbish more than 85,000 distribution poles.
"Ontario's growth, prosperity and competitiveness depend on a reliable and secure electricity system," said Megan Telford, President and CEO of Hydro One. She said the plan invests in replacing aging infrastructure now, strengthening the system against severe storms and evolving security threats, and adding capacity for growing communities and businesses.
The filing uses a custom incentive rate-setting framework covering January 1, 2028 to December 31, 2032, and must be reviewed and approved by the OEB before it can take effect.
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