Hydro One offers refunds to businesses in local area

Refunding $910,000 in security deposits will help many operations keep afloat until pandemic impact subsides, Market Hall GM says

Hydro One will be offering refunds for Peterborough Distribution business customers hard hit by the COVID-19 pandemic, the utility announced Monday.

“Customers are counting on us now more than ever to keep the lights on and provide support during this difficult time,” said Jason Fitzsimmons, chief corporate affairs and customer care officer for Hydro One.

“We have a deep responsibility to advocate on behalf of our customers, and are committed to standing with Peterborough, Lakefield and Norwood now and in the future.”

About $910,000 in security deposits will be refunded to eligible businesses in the area, said Stuart Harrison, president and CEO of the Greater Peterborough Chamber of Commerce.

“Refunding over $910,000 in security deposits to eligible Peterborough Distribution businesses is a generous gesture from Hydro One,” Harrison said.

“This, coupled with the other significant investments they’ve announced, as part of their acquisition of Peterborough Distribution, certainly sets the table for a good relationship.”

Electricity is one of the largest expenses for many Peterborough businesses, so the refunds will help businesses to keep going until the pandemic is overcome, said Chad Hogan, general manager of the Market Hall Performing Arts Centre, which hasn’t hosted shows since the pandemic began in March.

“Hydro is one of our largest monthly expenditures,” he said, “with the pandemic effectively shuttering our doors, this will help us keep going until we can reopen.”

About 30 people were on a questionand-answer session Monday morning hosted by Fitzsimmons to explain about Hydro One’s plans, Harrison said

“He commented on a couple of things,” Harrison said. “He talked about upgrading their transmitter stations. The introduction of remote monitoring, so they don’t have to dispatch crews before they can establish when a break happens, they can quickly establish where it is.”

Hydro One has served customers across Peterborough County for years but has now taken on former Peterborough Utilities customers from Peterborough city, Lakefield and Norwood.

Hydro One acquired the assets of Peterborough Distribution in August for $105 million, in a sale approved by city council which was finalized in the summer of 2018 and approved earlier this year by the Ontario Energy Board.

Peterborough Distribution customers also immediately benefitted from the sale and acquisition by Hydro One through a one per cent drop in distribution rates which will then be frozen for five years under terms of the acquisition deal.

Hydro One is continuing planning to open a new processing centre and a fleet upkeep facility to serve all its Peterborough area customers.