TORONTO, July 21, 2020 /CNW/ - Hydro One Inc. ("Hydro
One") is pleased to announce the achievement of tentative
settlements for two collective agreements with the Power Workers'
Union ("the PWU") covering approximately 3,800 regular employees
and approximately 1,400 casual employees in critical front line
roles across the company's operations in Ontario.
"I want to thank our respective teams for negotiating in an open
and productive way to reach this outcome," said Mark Poweska, President and CEO, Hydro One.
"These agreements recognize the crucial role of our front-line
staff in energizing life for our customers and communities during
this challenging and uncertain time."
Negotiations covered the renewal of two collective agreements:
the main collective agreement, which includes front-line staff, and
the Customer Service Operations collective agreement, which
includes staff in customer facing roles.
Union members will now vote on these tentative agreements with
the outcome anticipated by the end of September.
Hydro One Limited (TSX: H)
Hydro One Limited,
through its wholly-owned subsidiaries,
is Ontario's largest electricity transmission and
distribution provider with approximately 1.4 million valued
customers, approximately $27.1 billion in assets as
at December 31, 2019, and annual revenues in 2019 of
approximately $6.5 billion. Our team of approximately 8,800
skilled and dedicated employees proudly build and maintain a safe
and reliable electricity system, which is essential to supporting
strong and successful communities. In 2019, Hydro One invested
approximately $1.7 billion in its transmission and
distribution networks and supported the economy through buying
approximately $1.5 billion of goods and services. We are
committed to the communities where we live and work through
community investment, sustainability and diversity initiatives. We
are designated as a Sustainable Electricity Company by the Canadian
Electricity Association. Hydro One Limited's common shares are
listed on the TSX and certain of Hydro One Inc.'s medium term notes
are listed on the NYSE. Additional information can be accessed
at www.HydroOne.com; www.sedar.com or www.sec.gov.
Forward-Looking Statements and Information:
This press release may contain "forward-looking information" within
the meaning of applicable securities laws. Words such as "expect,"
"anticipate," "intend," "attempt," "may," "plan," "will", "can",
"believe," "seek," "estimate," and variations of such words and
similar expressions are intended to identify such forward-looking
information. These statements are not guarantees of future
performance or actions and involve assumptions and risks and
uncertainties that are difficult to predict. Therefore, actual
outcomes and results may differ materially from what is expressed,
implied or forecasted in such forward-looking information. Some of
the factors that could cause actual results or outcomes to differ
materially from the results expressed, implied or forecasted by
such forward-looking information, including some of the assumptions
used in making such statements, are discussed more fully in Hydro
One's filings with the securities regulatory authorities
in Canada, which are available on SEDAR at www.sedar.com.
Hydro One does not intend, and it disclaims any obligation, to
update any forward-looking information, except as required by
law.
SOURCE Hydro One Inc.