TORONTO, Feb. 25, 2026 /CNW/ - Toronto Hydro Corporation (Toronto Hydro) today announced its financial and operating results for the year ended December 31, 2025.
Net income after net movements in regulatory balances for the year ended December 31, 2025, increased to $201.5 million, up $71.2 million from the prior year, reflecting the first year of Toronto Hydro's latest five-year rate period as approved by the Ontario Energy Board (OEB). The increase was primarily due to higher distribution revenue from OEB-approved distribution rates, net of rate riders, and increased other revenue, partially offset by higher depreciation and amortization from capital additions supporting system reliability and growth.
As part of Toronto Hydro's commitment to powering Toronto's energy needs today and tomorrow through increasing distribution grid capacity and system resiliency, it has embarked on a $5.1 billion five-year investment plan, which includes significant capital investments in the local distribution grid. Capital expenditures for the year ended December 31, 2025, were $944.1 million, an increase of $61.7 million or 7.0 per cent compared to the same period last year. Key capital initiatives in 2025 included the delivery of customer connections throughout the city, replacement of overhead and underground infrastructure, customer-initiated asset relocations and expansions, and ongoing modernization and replacement of Toronto Hydro's metering program.
Selected financial and operational highlights
(in millions of Canadian dollars)
Year ended
December 31
2025
$
2024
$
Distribution revenue
959.4
937.8
Net income after net movements in regulatory balances
201.5
130.3
Capital expenditures
944.1
882.4
COMMITMENT TO SAFETY
In 2025, Toronto Hydro experienced the tragic loss of a valued team member in a workplace incident -- underscoring the critical importance of safety across the company. Throughout the year, Toronto Hydro strengthened its focus on safety, enhancing its overall safety culture and introducing a new proactive safety program for employees. As it moves forward, Toronto Hydro remains firmly committed to reinforcing safe work practices, learning from every incident and ...
