Monitor OEB decision timeline and any interim rate orders. The plan's approval would signal a multi-year capex cycle supporting regulated asset growth, but no near-term catalyst until regulatory ruling.
Price Chart
Executive Summary
Hydro One submitted a proposed $37 billion five-year (2028-2032) investment plan to the Ontario Energy Board for transmission and distribution upgrades. The plan is subject to regulatory approval and would result in modest monthly bill increases for residential customers. This is a routine regulatory filing with no immediate financial impact.
Key Facts
- Hydro One submitted a five-year Joint Rate Application to the Ontario Energy Board for 2028-2032.
- Proposed investment plan is approximately $37 billion.
- If approved, monthly bill for a typical residential customer would increase by $0.50 in 2028 and average $1.14/year from 2028-2032 for transmission.
- Distribution monthly base charges would decrease by about $0.10 in 2028 and remain unchanged thereafter.
- Plan includes adding 6,000 MW of transmission capacity, modernizing 1,400 km of lines, and replacing 85,000+ distribution poles.
- Hydro One had $39.7 billion in assets and $9 billion in annual revenues as of December 31, 2025.
- The plan is subject to OEB approval and estimates could change.
Financial Impact
Proposed $37 billion capex plan over five years; minimal residential bill impact ($0.50-$1.14/month). No current financial results reported.
Risk Factors
- Regulatory denial or material modification of the investment plan by the OEB.
- Cost overruns or delays in executing the proposed capital projects.
- Customer or political opposition to rate increases could influence OEB decision.
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 6-K Filing (Primary) | 0001193125-26-417209 |
| Document: d210366d6k.htm | 0001193125-26-417209 |
| Document: 0001193125-26-417209-index-headers.html | 0001193125-26-417209 |
| Document: 0001193125-26-417209-index.html | 0001193125-26-417209 |
| Document: 0001193125-26-417209.txt | 0001193125-26-417209 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 7, 2026 20d ago | 6-K | $35.74 | awaiting T+20 | — | $38.83 (+8.65%) |
Aug 12, 2026 10w ago | 6-K | $40.81 $37.77 | ▼ −7.45% | ▼ −5.56% | $38.83 (−4.86%) |
Jun 12, 2026 19w ago | 6-K | $40.50 $41.69 | ▲ +2.95% | ▲ +3.09% | $38.83 (−4.12%) |
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