Category: News

OTTAWA – Hydro Ottawa Holding Inc. (Hydro Ottawa) is supporting Ottawa Community Housing (OCH) in making significant strides towards reducing emissions across its portfolio through the Ottawa Retrofit Accelerator (ORA) program.

As part of this initiative, OCH has engaged Envari Energy Solutions, a subsidiary of Hydro Ottawa and ORA approved carbon pathway study delivery consultant. Envari’s expertise will provide OCH with a comprehensive analysis and a tailored roadmap to maximize energy efficiency across 38 high-rise buildings and pursue its emission reduction targets. They hope the rest of OCH’s portfolio will also go through the programs.

This ambitious project aims to align OCH with the City of Ottawa’s Climate Change Master plan of achieving a 96 per cent reduction in OCH’s emissions by 2040.

This collaboration between Hydro Ottawa and Ottawa Community Housing exemplifies the power of partnership in tackling climate change. Hydro Ottawa’s innovative energy solutions are helping OCH achieve its environmental goals, while OCH’s leadership in sustainability sets a model for other commercial, institutional, or multi-residential buildings to follow in the transition to cleaner energy.

Quick facts

• In July of 2024, OCH and Hydro Ottawa announced an expansion to their existing partnership to further reduce carbon emissions in OCH communities through innovative energy-saving projects. These projects included technical support for the installation of EV charging infrastructure, heat pumps, on-site solar panels, and building automatic systems.
• Hydro Ottawa’s ORA program is available to commercial, institutional, mid-rise and high-rise residential buildings within Hydro Ottawa service territory.
• Hydro Ottawa was selected by Natural Resources Canada (NRCan) to deliver the Ottawa Retrofit Accelerator, a $10 million program running until March 31, 2027.
• Hydro Ottawa’s ORA program provides an ecosystem of support services to help streamline the deep retrofit process and cover a portion of the cost.
• OCH’s goal is to align with the City of Ottawa’s Climate Change Master Plan of reducing emissions by 96 per cent by 2040.
• Since 2011, OCH has saved $64.1 million as a result of their sustainability and efficiency efforts

 

Quotes:

“This partnership is a testament to the power of collaboration and innovation in tackling climate change and the energy transition. We’re proud to support Ottawa Community Housing in leading the way towards decarbonizing through our Ottawa Retrofit Accelerator program. By investing in energy efficiency and embracing innovative solutions, we can help OCH achieve its ambitious carbon reduction goals while making their buildings more comfortable and affordable for residents. This project is a testament to our shared commitment to a sustainable future for Ottawa.”

• Bryce Conrad, President and Chief Executive Officer, Hydro Ottawa Holding Inc.

 

“Reviewing our eco performance is crucial for integrating our climate goals into our long-term capital planning. By understanding the decarbonization pathways for each of our buildings, we can make informed decisions on infrastructure upgrades, ensuring both sustainability and affordability for our residents.”

• Stéphane Giguère, CEO, Ottawa Community Housing

 

Learn more about Hydro Ottawa’s ORA program.

– 30 –

Media contacts

Susan Fekete
Manager, Media and Public Affairs
Hydro Ottawa
Tel: 613-738-5499 ext. 2345
[email protected]

Esther Njuguna
Media Relations Specialist
Ottawa Community Housing
Tel: 343-961-4035
[email protected]

 

About Hydro Ottawa Holding Inc.

Hydro Ottawa Holding Inc. (Hydro Ottawa) is a private company 100 per cent owned by the City of Ottawa and whose core businesses are electricity distribution, renewable energy generation, energy solutions, telecommunications and utility services. As a leading partner in a smart energy future, Hydro Ottawa is committed to sustainability and reducing its impact on the environment in all aspects of its operations. It owns and operates four primary subsidiary companies: Hydro Ottawa Limited – a local distribution company that delivers electricity to more than 364,000 customers in the City of Ottawa and the Village of Casselman; Portage Power – the largest Ontario-based municipally-owned producer of green power with 131 megawatts of installed green generation capacity (enough to power 110,000 homes); Envari – an energy solutions company offering products and services that help reduce energy consumption and costs for municipalities, industrial and commercial clients, and various local distribution companies; and Hiboo Networks – a high-speed fiber optic network solutions and internet service company providing customers in the Ottawa-Gatineau region with secure and scalable connectivity to enable a strong digital future.

About Ottawa Community Housing

Ottawa Community Housing offers approximately 15,000 homes to about 33,000 tenants, including seniors, families, individuals, and people with disabilities. These homes are located in various communities throughout the City of Ottawa and house a diverse population with different languages, cultures, and ethnicities. OCH is Ottawa’s primary community housing provider, managing two-thirds of the city’s housing portfolio and ranking as the second largest in Ontario. It operates at an arms-length of the City of Ottawa. In 2024, OCH earned recognition for the seventh consecutive year as one of the National Capital Region’s Top Employers.

OTTAWA, October 1, 2024 – Hydro Ottawa Holding Inc. (“Hydro Ottawa”) today announced that it has successfully completed the corporate reorganization announced on May 21, 2024 (the “Reorganization”). As a part of the Reorganization, Hydro Ottawa implemented the Debenture Amendments (as described in the consent solicitation statement dated May 21, 2024 (the “Consent Solicitation Statement”)), pursuant to which Hydro Ottawa Capital Corporation (“HOCC”), a wholly owned subsidiary of Hydro Ottawa, assumed the obligations of Hydro Ottawa in respect of the four series of its outstanding Canadian dollar senior unsecured debentures (the “Debentures”), as listed in the table below.

Title of Series of Debentures	New Issuer	New CUSIP/ISIN
2.614% Series 2015-1 Debentures due 2025 (“Series 2015-1 Debentures”)	HOCC	448975AA0/CA448975AA02
3.639% Series 2015-2 Debentures due 2045 (“Series 2015-2 Debentures”)	HOCC	448975AD4/CA448975AD41
3.991% Series 2013-1 Debentures due 2043 (“Series 2013-1 Debentures”)	HOCC	448975AB8/CA448975AB84
4.968% Series 2006-1 Debentures due 2036 (“Series 2006-1 Debentures”)	HOCC	448975AC6/CA448975AC67

 

The exchange of the debentures previously issued by Hydro Ottawa under CUSIP/ISIN 44882CAD6/CA44882CAD61 (for Series 2015-1 Debentures), 44882CAE4/CA44882CAE45 (for Series 2015-2 Debentures), 44882CAC8/CA44882CAC88 (for Series 2013-1 Debentures) and 44882CAB0/CA44882CAB06 (for series 2006-1 Debentures) for the above Debentures was facilitated through the facilities of CDS Clearing and Depository Services Inc.

This press release is for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to buy the Debentures or any other securities. Copies of the Consent Solicitation Statement may be obtained from TMX Investor Solutions Inc., the information agent for the consent solicitation, by email at [email protected].

Any persons with questions regarding the Debentures should contact Hydro Ottawa’s information agent, TMX Investor Solutions Inc. as follows:

TMX Investor Solutions Inc.

301 – 100 Adelaide Street West

Toronto, Ontario M5H 1S3

Toll Free in North America: 1(866) 796-6867

Call direct: (438) 944-1086

Email: [email protected]

About Hydro Ottawa Holding Inc.

Hydro Ottawa Holding Inc. (Hydro Ottawa) is a private company wholly owned by the City of Ottawa. Our core businesses include electricity distribution, renewable energy generation, energy solutions, telecommunications and utility services. For more information, please visit: https://hydroottawaholding.com/.

Caution Concerning Forward-Looking Statements

This document may include certain forward-looking information and forward-looking statements within the meaning of applicable securities laws. These statements are based on management’s current expectations or beliefs and are subject to uncertainty and changes in circumstances. Actual results may vary materially from those expressed or implied by the statements herein due to changes in economic, business, competitive, technological, strategic and/or regulatory factors, industry structure and stability, and other factors affecting the operations of Hydro Ottawa.

For more information:

Hydro Ottawa Media Relations
[email protected]
613-738-5499 ext. 2345

 

 

Today, Hydro Ottawa Holding Inc. (Hydro Ottawa) and Ottawa Community Housing (OCH), the largest community and affordable housing provider in Ottawa, announced the expansion of an existing partnership to further reduce carbon emissions in OCH communities through innovative energy-saving projects.

By combining Hydro Ottawa’s energy efficiency and renewable energy expertise with OCH’s drive to offer innovative housing solutions for sustainable living, this strengthened  partnership will play a crucial role in reducing Ottawa’s carbon footprint. It will also lead to lower overhead costs for OCH, allowing them to preserve affordability and provide more environmentally friendly housing options for low-income residents.

Ongoing and future energy-saving projects include:

• EV charging infrastructure to promote electric vehicle car-sharing
  • To date, the EV car-share program has seen 255 users collectively travel 34,444 kilometers over 4,695 hours of drive time
• New solar panels to generate clean energy on-site
  • To date, 37 solar arrays have been installed and have the capacity to generate 500,000 kWh
• Installation of heat pumps for efficient heating and cooling
  • This major investment by Hydro Ottawa and OCH, includes the design for the installation of 260 heat pumps for individual townhomes, over time.
• Building automation systems (BAS) to optimize energy use. BAS systems have been implemented in 18 OCH buildings and is currently working on the design for another 27 buildings.

This collaboration highlights the power of community partnerships in driving positive change. By working together to conserve energy and tackle climate change, Hydro Ottawa and OCH are demonstrating their shared commitment to building a stronger, healthier community and contributing to a more sustainable future in the National Capital Region. 

Quick facts

• OCH’s goal is to align with the City of Ottawa’s Climate Change Master Plan of reducing emissions by 96 per cent by 2040.
• Since 2010, $64.1M in cost savings has been reinvested in improving OCH operations.
• Hydro Ottawa’s affiliate, Envari Energy Solutions, has been supporting OCH with several initiatives, including their Building Automation Systems, allowing OCH to reduce emissions and improve energy efficiency.
• In 2022, OCH partnered with Hydro Ottawa, the Ottawa Climate Action Fund, EnviroCentre, and car-sharing company Communauto to launch a pilot EV car-share program at phase one of Mosaïq Ottawa. The program included the installation of EV charging infrastructure by Envari Energy Solutions. Due to its success, the program will be expanded to include another OCH development at 715 Mikinak later this summer.
• Since its launch, the EV car-share program has seen 255 users collectively travel 34,444 kilometers over 4,695 hours of drive time (as of June 2024). The car is available to nearly 700 tenants living in five Ottawa Community Housing communities.
• Hydro Ottawa and OCH are actively exploring collaborating on future carbon reducing projects to achieve mutual net-zero goals. Of note, this includes the engineering and design for the future installation of heat pumps for individual townhomes; and supporting OCH with their Long-Range Capital and Carbon Plan to name a few.

 

Quotes:

“This partnership between Hydro Ottawa and Ottawa Community Housing is about more than just energy efficiency – it’s about creating more comfortable, sustainable homes for residents. By working together, we will implement solutions that reduce environmental impact, lower energy costs, and improve overall comfort. Hydro Ottawa is committed to supporting our customers in every way possible as we move toward a smarter energy future.”

• Bryce Conrad, President and Chief Executive Officer

 

“This partnership with Hydro Ottawa is a significant step toward achieving our mission. Together, we will implement innovative energy-saving technologies that reduce our carbon footprint, lower energy costs, and provide advanced energy solutions to residents. This strategic collaboration aligns with OCH’s commitment to reducing its carbon emissions and reinforces Hydro Ottawa’s dedication to supporting green energy and carbon reduction projects within the community. At OCH, we are dedicated to creating sustainable, affordable housing options for residents. Our combined efforts underscore our shared commitment to building stronger and greener communities”

• Stéphane Giguère, CEO of Ottawa Community Housing

 

Media contacts

Josée Larocque
Director, Communications and Public Affairs
Hydro Ottawa
Tel: 613-738-5499 ext. 2345
[email protected]

Chantal Genova
Manager, Corporate Communications
Ottawa Community Housing
343-997-5700
[email protected]

 

About Hydro Ottawa Holding Inc.

Hydro Ottawa Holding Inc. (Hydro Ottawa) is a private company 100 per cent owned by the City of Ottawa and whose core businesses are electricity distribution, renewable energy generation, energy solutions, telecommunications and utility services. As a leading partner in a smart energy future, Hydro Ottawa is committed to sustainability and reducing its impact on the environment in all aspects of its operations. It owns and operates four primary subsidiary companies: Hydro Ottawa Limited – a local distribution company that delivers electricity to more than 364,000 customers in the City of Ottawa and the Village of Casselman; Portage Power – the largest Ontario-based municipally-owned producer of green power with 131 megawatts of installed green generation capacity (enough to power 110,000 homes); Envari – an energy solutions company offering products and services that help reduce energy consumption and costs for municipalities, industrial and commercial clients, and various local distribution companies; and Hiboo Networks – a high-speed fiber optic network solutions and internet service company providing customers in the Ottawa-Gatineau region with secure and scalable connectivity to enable a strong digital future.

About Ottawa Community Housing:

Ottawa Community Housing offers approximately 15,000 homes to about 33,000 tenants, including seniors, families, individuals, and people with disabilities. These homes are located in various communities throughout the City of Ottawa and house a diverse population with different languages, cultures, and ethnicities. OCH is Ottawa’s primary community housing provider, managing two-thirds of the city’s housing portfolio and ranking as the second largest in Ontario. It operates at an arms-length of the City of Ottawa. In 2024, OCH earned recognition for the seventh consecutive year as one of the National Capital Region’s Top Employers.

OTTAWA – Today, Hydro Ottawa Holding Inc. presented its 2023 Annual Report, highlighting successes in enabling sustainable energy solutions for customers, preparing for and responding to extreme weather events, and maintaining a safe and reliable supply of electricity.

Board Chair, Bernie Ashe, and President and Chief Executive Officer, Bryce Conrad, presented the company’s 2023 results during the Annual General Meeting today before Ottawa City Council. They also provided an update on the company’s portfolio of locally-based clean energy project partnerships, ongoing efforts to boost grid resilience in the face of increasingly frequent severe weather events, and plans for investing in distribution system infrastructure over the coming years to support the city’s growth and increased electrification of the economy.

Hydro Ottawa’s core mandate remains unchanged: to provide a safe, reliable supply of electricity to approximately 364,000 residential and commercial customers that rely upon the company every day; and to ensure a more sustainable energy future for its community.

Quick Facts

• Hydro Ottawa’s 2023 consolidated net income was $24.1 million.

• In accordance with the City Council-approved dividend policy, Hydro Ottawa’s dividend payment to the City will be $20 million this year, which will be used by the City to fund municipal programs and services. 

• Despite the impacts of extreme weather events, Hydro Ottawa’s maintained high levels of service reliability and achieved its second best-ever outage frequency result. On average, Hydro Ottawa customers had power 99.92 per cent of the time.

• As part of its focus on improving emergency preparedness and response, Hydro Ottawa introduced outage alert notifications to customers via text message and email, along with a new online outage map with enhanced functionality.

• Hydro Ottawa announced a partnership with The Ottawa Hospital to design and develop an energy-efficient central utility plant for its new Civic Campus. The plant will sustainably power the state-of-the-art facility and help minimize its carbon footprint.

• Portage Power, the company’s renewable energy subsidiary, was awarded a 20-year contract for Renewable Energy Certificates from the New York State Energy Research and Development Authority, through the State’s Renewable Energy Standard program.

• Envari, the company’s energy and utility services business, continued to advance its signature carbon-reduction partnerships: supporting OC Transpo with transitioning to a zero-emission bus fleet and assisting the Ottawa International Airport Authority in reducing its energy consumption and environmental footprint.

• To help enable a smart and connected National Capital Region, Hydro Ottawa publicly launched its new telecommunications affiliate, Hiboo Networks, which will provide fiber optic network solutions to businesses and institutions in Ottawa and Gatineau.

• Hydro Ottawa achieved a 91 per cent overall customer satisfaction score and maintained the highest e-billing participation rate among Ontario distribution utilities (65 per cent).

• The journey towards becoming the first municipally-owned utility in Canada to achieve net-zero operations continued with the procurement of additional electric vehicles (EVs) for field crews, the installation of EV chargers at work centres, and the launch of environmental assessment and public consultation processes for the Piperville Municipal Transformer Station, which is being developed using low-carbon design and construction techniques.

• During an 84-day labour strike, Hydro Ottawa successfully executed its contingency plans for maintaining service to customers and mobilizing additional resources to assist with outage restoration.

• Hydro Ottawa’s employee-driven charitable campaign raised more than $142,000 for United Way Eastern Ontario and $53,000 for the Royal Ottawa Prompt Care Clinic. In addition, sponsorships and donations totalling $102,000 were contributed through the Community Investment Program to local organizations supporting vulnerable groups and seeking to build stronger and healthier communities.

 

Quotes

“In 2023, Hydro Ottawa once again demonstrated that we will deliver on our mission to provide safe, reliable electricity, no matter what challenges come our way. In the face of extreme weather events, significant economic pressures and a labour strike, the company pushed forward and never wavered in its commitment to being there for the residents and businesses who depend on us. I’m proud of how the team has emerged stronger, with our attention firmly fixed on the exciting opportunities ahead for adopting more sustainable ways of using energy.”

-Bernie Ashe, Chair, Board of Directors

“More and more, overcoming adversity and adapting to change are key watchwords for Hydro Ottawa. Not only did we navigate a landscape of continuous challenges in 2023, we did so while pursuing new opportunities aimed at accelerating the transition to a more sustainable future. Building on the lessons and accomplishments of the past year, we’re more focused than ever on being a trusted partner and solutions provider for our customers and community.”

-Bryce Conrad, President and Chief Executive Officer

 

Media contact:

Susan Fekete
Manager, Media and Public Affairs
Hydro Ottawa Holding Inc.
[email protected]

OTTAWA – Hydro Ottawa Holding Inc. (“Hydro Ottawa”) today announced that further to its consent solicitation announced on May 21, 2024, holders (the “Debentureholders”) of 88.94% of the aggregate principal amount of the four series of its outstanding Canadian dollar senior unsecured debentures (the “Debentures”), as listed in the table below, have delivered consents to approve the Debenture Amendments (as described in the consent solicitation statement dated May 21, 2024 (the “Consent Solicitation Statement”)).

Title of Series of Debentures	CUSIP/ISIN
2.614% Series 2015-1 Debentures due 2025	44882CAD6 / CA44882CAD61
3.639% Series 2015-2 Debentures due 2045	44882CAE4 / CA44882CAE45
3.991% Series 2013-1 Debentures due 2043	44882CAC8 / CA44882CAC88
4.968% Series 2006-1 Debentures due 2036	44882CAB0 / CA44882CAB06

 

As described in the Consent Solicitation Statement, given that Debentureholders representing not less than 66 2/3% of the aggregate principal amount of the Debentures have delivered valid consents consenting to the approval of the Debenture Amendments, the meeting of Debentureholders, which was originally scheduled at 10:00 a.m. (EDT) on June 17, 2024, has been cancelled.

Hydro Ottawa will make arrangements for the payment of the applicable review fees to the Tabulation Agent (TSX Trust Company) for distribution to the Debentureholders who delivered valid responses as contemplated by the Consent Solicitation Statement.

Hydro Ottawa intends to implement the Debenture Amendments once all required approvals for the Corporate Reorganization described in the Consent Solicitation Statement are obtained, including approval of the Ontario Energy Board. The exact timing for implementing (if at all) the Debenture Amendments will be determined by Hydro Ottawa in its sole discretion. Hydro Ottawa reserves the right to not to give effect to the Debenture Amendments for any reason. Hydro Ottawa currently expects the Corporate Reorganization to take effect on or about October 1, 2024, subject to the receipt of required approvals as described in the Consent Solicitation Statement.

This press release is for informational purposes only and does not amend the consent solicitation, which has expired and was made solely on the terms and subject to the conditions set forth in the Consent Solicitation Statement. Further, this press release does not constitute an offer to sell or the solicitation of an offer to buy the Debentures or any other securities. Copies of the Consent Solicitation Statement may be obtained from TMX Investor Solutions Inc., the Information Agent for the consent solicitation, by email at [email protected].

Any persons with questions regarding the consent solicitation should contact the Solicitation Agent (Scotia Capital Inc.) or Information Agent (TMX Investor Solutions Inc.) as follows:

 

SCOTIA CAPITAL INC.
40 Temperance Street
Toronto, Ontario M5H 0B4
Attention: Scotiabank Debt Syndication
Telephone: 416-863-7438
Email: [email protected]

TMX Investor Solutions Inc.
301 – 100 Adelaide Street West
Toronto, Ontario M5H 1S3
Toll Free in North America: 1(866) 796-6867

 

About Hydro Ottawa Holding Inc.

 Hydro Ottawa Holding Inc. (Hydro Ottawa) is a private company wholly owned by the City of Ottawa. Our core businesses include electricity distribution, renewable energy generation, energy solutions, telecommunications and utility services.

Caution Concerning Forward-Looking Statements

 This document may include certain forward-looking information and forward-looking statements within the meaning of applicable securities laws. These statements include statements relating to the Debenture Amendments and the Corporate Reorganization and are based on management’s current expectations or beliefs, and are subject to uncertainty and changes in circumstances. Actual results, including the timing of the Corporate Reorganization, may vary materially from those expressed or implied by the statements herein due to changes in economic, business, competitive, technological, strategic and/or regulatory factors, industry structure and stability, and other factors affecting the operations of Hydro Ottawa.

For more information:

Hydro Ottawa Media Relations

[email protected]

613-738-5499 ext. 2345

OTTAWA – Hydro Ottawa Holding Inc. (“Hydro Ottawa”) today announced that it has commenced a consent solicitation to seek  the approval of the holders of four series of its outstanding Canadian dollar senior unsecured debentures (the “Debentures”), as listed in the table below, to amend the trust indenture and supplemental indentures governing the Debentures (the “Debenture Amendments”) to facilitate a corporate reorganization of Hydro Ottawa and its subsidiaries (the “Corporate Reorganization”). 

Title of Series of Debentures	Aggregate Principal Amount Outstanding	Review Fee (1)
2.614% Series 2015-1 Debentures due 2025	CAD$200,000,000	$0.25 per $1,000
3.639% Series 2015-2 Debentures due 2045	CAD$175,000,000	$0.25 per $1,000
3.991% Series 2013-1 Debentures due 2043	CAD$150,000,000	$0.25 per $1,000
4.968% Series 2006-1 Debentures due 2036	CAD$50,000,000	$0.25 per $1,000

1. For each $1,000 principal amount of Canadian dollar senior unsecured debentures.

 

As a result of the Corporate Reorganization, Hydro Ottawa will transfer its interest in certain of its subsidiaries, including Hydro Ottawa Limited, to a newly formed wholly owned subsidiary named Hydro Ottawa Capital Corporation (“HOCC”) and certain of its interest in other subsidiaries, including Energy Ottawa Inc., to a newly formed wholly owned subsidiary named Hydro Ottawa Energy Services Inc. (“HOESI”). Concurrently with the implementation of the Corporate Reorganization, HOCC will assume all of the obligations of Hydro Ottawa in respect of the Debentures and under certain credit facilities, and Hydro Ottawa will be released from such obligations. The Corporate Reorganization is subject to the receipt of approval of the Ontario Energy Board and lender approval.

The adoption of the Debenture Amendments requires that an extraordinary resolution (the “Extraordinary Resolution”) be approved by the affirmative votes of holders of Debentures (the “Debentureholders”) present in person or represented by proxy at a meeting (the “Meeting”) who hold not less than 66 2/3% of the aggregate principal amount of the Debentures voted in respect thereof. The approval of Debentureholders may also be evidenced by written consent of the holders of not less than 66 2/3% of the aggregate principal amount of Debentures. The meeting is scheduled for June 17, 2024 at 10:00 am (EDT) as set out in the notice of meeting to be provided to Debentureholders. A joint consent and proxy solicitation statement dated May 21, 2024 (the “Consent Solicitation Statement”) setting out the Debenture Amendments and details of the meeting and consent will accompany the notice of meeting.

The record date for entitlement to submit elections with respect to consent, and to notice of, and to vote at, the Meeting is 5:00 p.m. (EDT) on May 6, 2024 (the “Record Date”). Each Debentureholder of record as of the Record Date shall have one vote for every $1,000 of Debentures held in respect of the Debenture Amendments.

The deadline for the submission of consents by Debentureholders is no later than 5:00 p.m. (EDT) on June 13, 2024 (the “Consent Deadline”) and the deadline for delivery of proxies for the Meeting (the “Proxy Deadline”) is also no later than 5:00 p.m. (EDT) on June 13, 2024, subject, in each case, to modification, waiver, postponement or extension by Hydro Ottawa in its discretion.

Hydro Ottawa reserves the right to terminate, cancel, extend or modify the terms of the solicitation of consents and proxies for approval of the Debenture Amendments at any time prior to the Consent Deadline, the Proxy Deadline, or the Meeting, as applicable, by giving written notice to the trustee of the Debentures as provided in the Consent Solicitation Statement.

If the Debenture Amendments are approved, any Debentureholder who authorized and directed their dealer, broker or other CDS intermediary (each a “CDS Participant”) to respond in accordance with the instructions set out in the Consent Solicitation Statement, regardless of whether the vote is for or against (or the consent is for or withheld) the Debenture Amendments, will be eligible to receive a review fee in the amount of $0.25 for each $1,000 principal amount of Debentures held (the “Review Fee”) by such Debentureholder, provided such response was received by the Consent Deadline. Debentureholders that fail to deliver a valid response prior to the Consent Deadline will not be entitled to receive the Review Fee, regardless of whether the Corporate Reorganization is approved.

Hydro Ottawa generally intends to implement the Debenture Amendments following approval of the Debenture Amendments once all required approvals for the Corporate Reorganization are obtained, including approval of the Ontario Energy Board.

This press release is for informational purposes only and the consent solicitation is being made solely on the terms and subject to the conditions set forth in the Consent Solicitation Statement. Further, this press release does not constitute an offer to sell or the solicitation of an offer to buy the Debentures or any other securities. The Consent Solicitation Statements do not constitute a solicitation of consents in any jurisdiction in which, or to or from any person to or from whom, it is unlawful to make such solicitation under applicable securities laws. Copies of the Consent Solicitation Statements may be obtained from TMX Investor Solutions Inc., the Information Agent for the consent solicitation, by email at [email protected]. Holders of the Debentures are urged to review the Consent Solicitation Statements for the detailed terms of the consent solicitations and the procedures for consenting to the Debenture Amendments.

Any persons with questions regarding the consent solicitation should contact the  Solicitation Agent (Scotia Capital Inc.) or Information Agent (TMX Investor Solutions inc.) as follows:

SCOTIA CAPITAL INC.
40 Temperance Street
Toronto, Ontario M5H 0B4
Attention: Scotiabank Debt Syndication
Telephone: 416-863-7438
Email: [email protected]

TMX Investor Solutions Inc.
301 – 100 Adelaide Street West
Toronto, Ontario M5H 1S3
Toll Free in North America: 1(866) 796-6867
Call direct: (438) 944-1086
Email: [email protected]

 

About Hydro Ottawa Holding Inc. 

Hydro Ottawa Holding Inc. (Hydro Ottawa) is a private company wholly owned by the City of Ottawa. Our core businesses include electricity distribution, renewable energy generation, energy solutions, telecommunications and utility services. 

Caution Concerning Forward-Looking Statements

This document may include certain forward-looking information and forward-looking statements within the meaning of applicable securities laws. These statements include statements relating to the Corporate Reorganization and are based on management’s current expectations or beliefs, and are subject to uncertainty and changes in circumstances. Actual results may vary materially from those expressed or implied by the statements herein due to changes in economic, business, competitive, technological, strategic and/or regulatory factors, industry structure and stability, and other factors affecting the operations of Hydro Ottawa.

 

For more information:

Hydro Ottawa Media Relations
[email protected]
613-738-5499 ext. 2345

 

OTTAWA – Hydro Ottawa Holding Inc. celebrates a ‘lucky 13’ today, after being named one of Canada’s Greenest Employers for the 13th time. With its commitment to local sustainability initiatives and strategic planning, this achievement highlights that true luck ‘is what happens when preparation meets opportunity.’ 

By growing its expertise and leadership in sustainable and net-zero focused initiatives, Hydro Ottawa has become a partner of first choice for local green energy and greenhouse gas (GHG) reduction projects, assisting the City of Ottawa, and many local companies and institutions – big and small – to take similar action by mapping out customized sustainability pathways and creating a larger net-zero energy ecosystem. 

This year’s selection focused on the valuable partnerships Hydro Ottawa has built within the community: supporting the City of Ottawa’s transition to electric buses which has helped reduce emissions and costs; converting Ottawa’s streetlights to energy-efficient LEDs; working with large customers to understand and reduce their GHG emissions by exploring alternative, cleaner technologies; and teaming up with the Ottawa International Airport Authority to work towards net-zero operations and implement energy-saving upgrades.

Hydro Ottawa is also focused on making it easier for residential customers to participate in a sustainable energy future. It promotes the adoption of electric vehicles by increasing awareness and access to electric vehicle chargers and infrastructure, rooftop solar panels, and providing support with connections. As a result of this work, there has been an 80 per cent year-over-year increase in solar connections.

Quick Facts

• Hydro Ottawa has earned the prestigious Sustainable Electricity Leader designation from Electricity Canada, recognizing its commitment to environmental, economic, and community excellence.

• Hydro Ottawa is the first Canadian municipally-owned utility to issue a Green Bond, which supported the refurbishment of hydro assets and construction of its LEED Gold campuses. Additionally, Hydro Ottawa is the first Canadian utility to earn ISO 55001 certification for asset management. These initiatives align with the United Nations’ Sustainable Development Goals, building a more peaceful and prosperous world.

• Portage Power, Hydro Ottawa’s renewable generation subsidiary, is Ontario’s largest municipally-owned producer of green power, with hydroelectric, solar and landfill gas-to-energy facilities generating 131 megawatts of renewable electricity (enough to power 110,000 homes annually). In total, Portage Power’s renewable generation capacity has increased six-fold in just 12 years.

• Hydro Ottawa’s two operations centres and main office are LEED Gold Buildings certified, a globally recognized benchmark of sustainability achievement for green buildings. 

• Hydro Ottawa has committed to becoming the first municipally-owned utility in Canada to achieve net zero operations – by the year 2030.

• Solar energy generation at Hydro Ottawa’s new facilities offsets approximately 18 per cent of the energy demand at its East Campus and 100 per cent at its South Campus.

• Hydro Ottawa diverts more than 90 per cent of its waste from landfill, and works with scrap metal companies to perform metal reclamation of copper wire, steel and aluminum from its small transformers and meters.

• Approximately 1.6 million litres of water are saved per year thanks to rainwater harvesting and an advanced filtration system at the main office.

• Hydro Ottawa’s education program, in partnership with Electricity Safety and Conservation and Relay Education, builds awareness and a culture of conservation and sustainability among elementary-aged children; the program has educated nearly 345,000 local students since its inception.

• Hydro Ottawa is a catalyst member of EnviroCentre and Carbon613, a growing network of organizations that are setting and achieving greenhouse gas reduction targets in Ottawa.

• Envari, Hydro Ottawa’s energy management subsidiary, continues to upgrade a City of Ottawa wastewater treatment plant by replacing the plant’s three cogeneration engines, and adding a fourth, which will eliminate 1,565 tonnes of CO2 per year and reduce utility costs by $80M over 25 years.

 

Quotes

“Sustainability isn’t a goal, it’s a journey we take together. Every electric bus, every energy-efficient LED, every rooftop solar panel or renewable energy project – that’s how we drive real change and build a greener future. We will continue championing innovation and sharing our expertise to create a net-zero ecosystem that benefits everyone.”

– Bryce Conrad, President and Chief Executive Officer

 

Media Contact

Susan Fekete

Manager, Media and Public Affairs

Hydro Ottawa

[email protected]  

OTTAWA – Today, Hydro Ottawa Holding Inc. presented its 2022 Annual Report, showcasing the company’s strong performance in a year which featured the most devastating storm in Ottawa’s history and which tested the company’s resilience like never before.

Board Chair, Jim Durrell, C.M., ICD.D, and President and Chief Executive Officer, Bryce Conrad, presented the company’s 2022 results during the Annual General Meeting today before Ottawa City Council. They also provided an update on the company’s ongoing work to enhance its emergency preparedness and response capabilities in the face of increasingly frequent and intense severe weather events, as well as on the recent labour disruption at the company.

Today’s meeting also marked the conclusion of Mr. Durrell’s tenure as Chair of the Board of Directors for Hydro Ottawa. During his 10 years as Chair, Mr. Durrell helped oversee the largest investment in the reliability and expansion of the local distribution grid in Hydro Ottawa’s history, as well as significant growth and diversification across the company’s business lines. Bernie Ashe, a well-known and respected local business leader and community builder, is set to assume the Board chairmanship for a four-year term.

Hydro Ottawa’s core mandate remains unchanged: to provide a safe, reliable and affordable supply of electricity to approximately 359,000 residential and commercial customers that rely upon the company every day; and to ensure a more sustainable energy future for its community.

Quick Facts

• Hydro Ottawa’s 2022 consolidated net income was $39.7 million.
• In accordance with the City Council-approved dividend policy, Hydro Ottawa’s dividend payment to the City will be $20 million this year, which will be used by the City to fund municipal programs and services.
• Despite the May 2022 Derecho storm and a major winter storm in December, Hydro Ottawa’s service reliability remained best-in-class among its peers in Ontario. On average, Hydro Ottawa customers had power 99.95 per cent of the time.
• The centrepiece of Hydro Ottawa’s corporate strategy is a commitment to achieving net-zero operations by 2030, a first for any municipally-owned utility in Canada. In 2022, the company reached a key milestone in this journey, with the certification of its main office and two operational facilities to LEED Gold status, a globally recognized symbol of sustainability achievement for green buildings.
• Portage Power, Hydro Ottawa’s renewable energy subsidiary, further strengthened its position as the largest municipally-owned producer of green power in Ontario through the acquisition of two run-of-the-river generating stations located on the Mississippi River just west of Ottawa. This increased its total generation capacity to 131 MW.
• Hydro Ottawa powered up its newest and largest substation (Cambrian Municipal Transformer Station), delivering the project on time and within budget. Located next to the station on unused land is one of the largest pollinator meadows in Eastern Ontario, developed in partnership with the City of Ottawa, Rideau Valley Conservation Authority and the Canadian Wildlife Federation.
• Envari, the company’s energy and utility services business, had its strongest financial year on record. This was driven by partnerships on signature clean energy projects, such as zero-emission buses with the City of Ottawa and decarbonization opportunities with the Ottawa International Airport Authority, as well as the expanding range of value-added services which Envari offers to commercial, institutional, municipal and utility clients.
• To help enable a smart and connected National Capital Region, Hydro Ottawa launched a new subsidiary, Hiboo Networks. Hiboo will provide fibre optic network solutions to businesses and institutions across Ottawa and Gatineau.
• Hydro Ottawa achieved a 93 per cent overall customer satisfaction score, continuing the recent trend of high customer satisfaction. The company also maintained the highest e-billing participation rate among Ontario distribution utilities (62 per cent).
• According to data published by the Ontario Energy Board, Hydro Ottawa had the lowest operating costs per customer among large distribution utilities in Ontario.
• Hydro Ottawa’s employee-driven charitable campaign raised more than $166,000 for the United Way of Eastern Ontario. In addition, $149,000 was raised for the Ottawa Food Bank, and the company was pleased to resume employee volunteering at community events such as Special Needs Day at the Capital Fair and the Help Santa Toy Parade.

Quotes

“As the events of 2022 demonstrated, the foundation of Hydro Ottawa’s business is our commitment to earning public trust by meeting the need for safe, reliable and affordable service, no matter what challenges come our way. Over the last 10 years, it’s been my great honour to have collaborated with the company’s management, employees and stakeholders in building upon this foundation by achieving best-in-class reliability, delivering value for our municipal shareholder and championing the transition to more sustainable energy solutions for our community. I’m proud of Hydro Ottawa’s incredible track record and I’m confident that this legacy will continue to flourish under Bernie and Bryce’s leadership.”

– Jim Durrell, C.M., ICD.D, Chair, Board of Directors

“The lessons of 2022 have sharpened our focus on emergency preparedness and response, and adapting our operations and infrastructure. Together with our ongoing investments in clean energy and carbon reduction initiatives, these actions will advance the shift to a smarter energy future. In addition, I want to express my sincere thanks to Jim Durrell for the dedicated years of service and commitment to performance excellence which he brought to our Board. I also want to welcome our incoming Chair, Bernie Ashe, to the Hydro Ottawa family. I look forward to working with him in writing the next chapter in our story of sustainably powering the community which we are fortunate to serve.”

– Bryce Conrad, President and Chief Executive Officer

 

Media contact:

Josée Larocque
Manager, Media and Public Affairs
Hydro Ottawa
Tel: 613-738-5499 ext. 2345
[email protected]

www.hydroottawa.com

About Hydro Ottawa

Hydro Ottawa Holding Inc. (Hydro Ottawa) is a private company 100 per cent owned by the City of Ottawa and whose core businesses are electricity distribution, renewable energy generation, and energy and utility services. As a leading partner in a smart energy future, Hydro Ottawa is committed to sustainability and reducing its impact on the environment in all aspects of its operations. It owns and operates three primary subsidiary companies: Hydro Ottawa Limited – a local distribution company that delivers electricity to more than 359,000 customers in the City of Ottawa and the Village of Casselman; Portage Power – the largest Ontario-based municipally-owned producer of green power with 131 megawatts of installed green generation capacity (enough to power 110,000 homes); and Envari – an energy solutions company offering products and services that help reduce energy consumption and costs for municipalities, industrial and commercial clients, and various local distribution companies.

OTTAWA – Today, Hydro Ottawa Holding Inc. celebrates its 12th win as one of Canada’s Greenest Employers. This year’s selection recognizes the company’s end-to-end approach to sustainability: increasing production of clean, renewable energy; helping customers conserve energy and lead energy-efficient lifestyles; building and designing its facilities to meet LEED Gold standards; implementing green technology; and building a culture of sustainability within its own organization.

Climate change, coupled with the push for electrification, is driving innovation and change in the electricity sector. As a trusted voice in the industry, Hydro Ottawa proactively seeks opportunities to help shape policy, regulatory and operational responses to these critical issues and endeavours to play a leading role in helping the city of Ottawa, and its residents, businesses and institutions, reduce their energy footprint, in the transition to net zero.

Given the inextricable link between energy and the environment, Hydro Ottawa is committed to leading the way to a smart energy future by advancing energy conservation, energy efficiency, and renewable energy generation. Hydro Ottawa’s pledge to transition its operations to net zero by 2030 is a first for any municipally-owned utility company in Canada.

Quick Facts

• In December 2022, Hydro Ottawa (through its subsidiary, Portage Power) acquired two additional hydroelectric generating stations from TransAlta Renewables located on the Mississippi River in the towns of Appleton and Galetta Falls. Together, these facilities generate an average of 12.5 gigawatt hours of clean energy annually. 

• Portage Power is Ontario’s largest municipally-owned producer of green power, with hydroelectric, solar and landfill gas-to-energy facilities generating 131 megawatts of renewable electricity (enough to power 110,000 homes annually). 

• In 2022, Hydro Ottawa’s two operations centres and main office (built in 2019) officially received LEED Gold Buildings certification, a globally recognized symbol of sustainability achievement for green buildings. 

• Solar energy generation at Hydro Ottawa’s new facilities offsets approximately 18 per cent of the energy demand at its East Campus and 100 per cent at its South Campus.

• Hydro Ottawa consistently diverts more than 90 per cent of its waste from landfill, and works with scrap metal companies to perform metal reclamation of copper wire, steel and aluminum from its small transformers and meters.

• Approximately 1.6 million litres of water are saved per year thanks to rainwater harvesting and an advanced filtration system at the main office.

• Now offered in a virtual format, Hydro Ottawa’s education program, in partnership with Electricity Safety and Conservation and Relay Education, builds awareness and a culture of conservation and sustainability among elementary-aged children; the program has educated just over 325,000 local students since its inception.

• To date, Hydro Ottawa has converted more than 40 per cent of its fleet to flex-fuel, battery and hybrid technology, and lowered energy use at 52 of its 91 substations through the installation of building automation systems to control lighting and heating.

• Hydro Ottawa is a catalyst member of EnviroCentre and Carbon613, a growing network of organizations that are setting and achieving greenhouse gas reduction targets in Ottawa.

• Envari, Hydro Ottawa’s energy management subsidiary, continues to upgrade a City of Ottawa wastewater treatment plant by replacing the plant’s three cogeneration engines, and adding a fourth, which will eliminate 1,565 tonnes of CO2 per year and reduce utility costs by $80M over 25 years.

 

Quotes

“Our employees are passionate about leaving an environmental legacy that they can look back on and claim as theirs. They want their work to matter and know that they positively contributed to a clean and renewable energy future for our city and all its residents. I’m proud to say that our employees apply that sustainability mindset to their work every single day. They’re not only helping us reach our goal to be net-zero in our operations by 2030, they are guiding the residents of Ottawa on their journey to be more energy efficient, too.”

– Bryce Conrad, President and Chief Executive Officer

 

Media Contact

Josée Larocque

Manager, Media and Public Affairs

Hydro Ottawa

Tel: 613-738-5499 ext. 2345

[email protected]

OTTAWA – For the fifteenth consecutive year, Hydro Ottawa has earned a spot among the National Capital Region’s Top Employers.

When a historic derecho wind storm devastated Ottawa and its electricity system on May 21, 2022, Hydro Ottawa employees came together for days on end to restore power for their customers. From severe damage to property and Ottawa’s urban forest, the impact on the company’s electrical infrastructure made this storm its biggest yet; significantly worse than the 1998 ice storm and the 2018 tornadoes.

The restoration effort was so massive an undertaking that it was the equivalent of doing four years worth of construction work and emergency repairs in 14 days. Through it all, employees from across the organization stepped up to assist. The powerful connection between employees and the community, as well as to each other, has been carefully nurtured over many years within the culture at Hydro Ottawa. It’s that connection to purpose and community that is a key driver of the organization’s success and vision for the future.

As a leader in a smart energy future, the company has committed to being the first municipally-owned utility in Canada to achieve net zero operations by 2030. It’s a moonshot, and employees across the company are taking up the challenge to innovate and plan the way forward. Employees of Hydro Ottawa work in rewarding careers that shape and influence the world around us, specifically in the rapidly evolving fields of electricity, sustainable energy solutions, and renewable energy generation.

Quick facts

• Hydro Ottawa places an emphasis on the health and wellbeing of its employees through its healthcare benefits, fitness and wellness programs, paid volunteer day, and employee assistance programs. Since the pandemic, the company introduced a fully digital, therapist-led, cognitive behavioural therapy program designed to help employees and their families struggling with mental health challenges.
• The company supported 11 local charities in 2022, including a donation of $150,000 for the Ottawa Food Bank, and an employee-led campaign that raised more than $166,000 for the United Way of East Ontario.
• In 2021, Hydro Ottawa launched its 2021-2025 Diversity, Equity and Inclusion Framework and Corporate Plan, the third plan since 2013, with a focus on continuing to increase the diversity of our workforce, providing a safe and inclusive work environment and strengthening partnerships in the community. And in 2022, the company outlined its commitment to gender diversity goals by 2030.
• On average, Hydro Ottawa invests close to 40 hours per employee annually on training in trades and safe work practices, business skills, management and leadership development. In 2022, the company continued its approach to modernizing its training and development programs, enabling employees to access micro learning anytime and anywhere on any device. A constantly growing eLearning library of courses, videos and ebooks for professional and skill development keeps employees learning, when it works for them. For field employees, new virtual reality training modules are changing the way they learn and practice their trade.
• Hydro Ottawa supports employees through key stages in their lives, and also invests in their families through programs like mental health support extended to family members and Safety Scholarships for post-secondary education.

 

Quotes

“When an emergency happens, whether it’s the derecho wind storm in May or the winter storm we experienced in December, I know our employees will give their all, and more, to restore power to our customers. They are committed to finding and implementing innovative solutions that will make our systems more resilient to climate change, and spearheading initiatives for a greener, more sustainable electricity future. That dedication to their work and their community is the reason for our continued success.” 

– Bryce Conrad, President and Chief Executive Officer

 

Media contact:

Josée Larocque
Manager, Media and Public Affairs
Hydro Ottawa Holding Inc.
Tel: 613-738-5499 ext. 2345
[email protected]