Toronto Hydro advances customer solutions, system investment and grid readiness to support Toronto's growing energy needs

TORONTO, Aug. 12, 2026 /CNW/ -- Toronto Hydro Corporation (Toronto Hydro) today announced its financial and operating results for the second quarter ended June 30, 2026.

Net income after net movements in regulatory balances for the six months ended June 30, 2026, was $104.1 million, down $6.5 million from the same period last year. The decrease was primarily due to revenue recognized in 2025 from one-time streetlighting contributed assets.

As part of Toronto Hydro's commitment to powering Toronto's energy needs through increasing distribution grid capacity and system resiliency, it has embarked on a $5.1 billion five-year investment plan. Capital expenditures for the six months ended June 30, 2026, were $470.1 million, a decrease of $11.8 million compared to the same period last year. Key capital investments included the delivery of more than 2,100 customer connections, replacement of overhead infrastructure, and customer-initiated asset relocations and expansions, including work supporting major city‑building and economic development projects such as expanded electrical infrastructure at the Jack Layton Ferry Terminal, modernization of VIA Rail's Toronto Maintenance Centre and the commissioning of a battery energy storage system for the Eglinton Crosstown LRT.

SECOND QUARTER PERFORMANCE HIGHLIGHTS

Financial Performance and Developments

• On June 16, S&P Global Ratings announced its decision to maintain Toronto Hydro's issuer rating and senior unsecured debentures rating at "A+" and Toronto Hydro's issuer rating outlook as "stable."
• On August 12, Toronto Hydro's Board of Directors declared a dividend of $10.0 million with respect to the third quarter of 2026, which is payable to the City of Toronto by September 30, 2026, in accordance with its revised Shareholder Direction to support Toronto Hydro's ability to invest in the local electrical distribution grid.

Operational Performance and Developments

• Toronto Hydro helped customers manage electricity costs through affordability programs, supporting over 40,000 customers through the Ontario Electricity Support Program and providing access to over $200,000 of emergency funding to over 370 customers through the Low-income Energy Assistance Program.
• Toronto Hydro continued to support customers through an expanded suite of energy-management offerings, helping customers access Save on Energy programs, delivering more than 100 personalized energy coaching sessions, generating more than 80 expressions of interest across its Multiplex Smart Load Management and EV Fast Charging pilot programs, and connecting with more than 125 Toronto businesses interested in energy solutions.
• Toronto Hydro continued to improve its end‑to-end customer connection processes to enhance the customer experience and support housing and economic development across Toronto. In support of this important work, Toronto Hydro delivered a multiplex action plan report to the City of Toronto in June, outlining specific measures to make it faster, simpler and more predictable to connect new housing developments to the local electricity grid.
• Throughout June and July, Toronto Hydro supported the City of Toronto's hosting of the FIFA World Cup 2026, helping ensure reliable electricity for six matches, where demand at Toronto Stadium peaked at 2.7 MW — enough to power approximately 2,700 homes at once — more than 30 fan events and critical event operations across the city.
• In July, Toronto Hydro continued to utilize its Local Demand Response Program to help maximize the efficiency of its grid during periods of high electricity demand, including offsetting 22.5 MW of demand during an extreme heat event on July 2 — enough to power approximately 20,000 homes.
• Toronto Hydro continued to advance its proactive safety program by opening two new state-of-the-art employee training facilities, holding its first-ever All-Trades Safety Summit, and educating customers and residents on public safety issues such as emergency preparedness and powerline safety. 
• Toronto Hydro also continued to advance its technology roadmap to support key strategic priorities, including improving the customer experience. This included transitioning to a new payment processing platform that enhances the security and privacy of eligible payment transactions by enabling customers to enter their payment information directly.
• As part of its commitment to transparency and accountability, Toronto Hydro released its 2025 Year in Review and 2025 Sustainability Report, highlighting the organization's progress in powering Toronto's growing and evolving energy needs and advancing a sustainable future for the city. The reports highlighted key achievements, including enabling more than $944 million in investment to strengthen and modernize Toronto's local electricity system, completing more than 6,000 capital projects across the city, supporting more than 53,000 customers through assistance programs and reducing Scope 1 emissions by 17 per cent compared to 2019.
• On May 23, Toronto Hydro responded to scattered outages across the city as a result of high winds, successfully restoring power to over 60,000 impacted customers.
• In June, Toronto Hydro was recognized as one of the top three electricity transmission and distribution utilities in Canada in Corporate Knights' annual ranking of Canada's Best 50 Corporate Citizens, reflecting the company's continued progress in building a more resilient, sustainable and customer-focused electricity system for Toronto. 
• On June 29, Toronto Hydro welcomed Guillaume Paradis as its new Executive Vice-President and Chief Operating Officer.

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 second‑quarter results reflect our continued focus on delivering for customers through operational excellence, prudent investment and reliable service. We expanded customer‑focused energy programs, continued improving connection processes to support housing and economic development, advanced safety and technology initiatives, and helped power Toronto's successful hosting of the FIFA World Cup 2026. As we look ahead, we remain focused on supporting Toronto's growth and evolving energy needs while delivering long‑term value for our customers, our shareholder and the communities we serve."

 -   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 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