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Ontario Energy Board denies Hydro One's $223M cost recovery for 2025 ice storm damage

Market News
07 Apr 2026
PRNewsWire
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Bearish
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Hydro One Networks Inc. was denied by the Ontario Energy Board (OEB) the recovery of about $223 million in costs related to the March 2025 ice storm that caused widespread damage and power outages affecting over 600,000 customers. The storm led to extensive repairs, including fixing more than 6,000 broken poles, with thousands of workers involved in restoration efforts. Hydro One is currently reviewing the decision to determine its next steps. This ruling impacts Hydro One's financial recovery plans following a major natural disaster in Ontario.

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