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ARTICLE · 26 MARCH 2015

Hydro One's Proposed Privatization: Knowing The Past, Understanding The Present And A Glimpse Into A Possible Future

Gowling WLG
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The Canadian media is abuzz with stories that the Province of Ontario will sell some portion of Hydro One, either through an initial public offering or some form of private sale.

CanadaEnergy and Natural Resources

The Canadian media is abuzz with stories that the Province of Ontario will sell some portion of Hydro One, either through an initial public offering or some form of private sale. Hydro One owns, operates and manages 97% of Ontario's electricity transmission capacity and serves 1.4 million customers located in rural and urban areas through its distribution assets.

Days of Future Past

By all accounts, Premier Wynne is serious about considering options for monetizing the significant value of Hydro One and thereby freeing up government capital for investment in needed infrastructure, including an ambitious transportation plan.

Many readers will recall that in 2002 the Provincial government of the day failed to privatize Hydro One entirely by an IPO and then to sell a half the company to a strategic buyer. Both initiatives failed as a result of a combination of factors including an adverse court decision on a technicality of law (which has since been addressed by

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