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Hydro One Brampton Officially Launched

TORONTO, August 1, 2001 - Hydro One Brampton officially began operation today with the closing of the agreement between Hydro One Inc. and the City of Brampton for the sale of the Brampton electrical distribution utility to Hydro One.

The deal was originally reached in October of 2000 and received approval from the Ontario Energy Board in July, 2001.

"The Hydro One Brampton name combines the strength of the Hydro One brand with our commitment to the Brampton community," said Hydro One President and CEO Eleanor Clitheroe in announcing the utility's new name.

"We are committed to providing the same high quality reliable service that Brampton electricity customers have enjoyed from the same employees that have supplied it for years," said Clitheroe. "We are also interested in becoming an integral part of the Brampton community."

"We're pleased that we have been able to conclude the agreement with Hydro One," said Brampton Mayor Susan Fennell. "This deal is good for both our City's electricity customers and the utility employees who have been offered employment guarantees." The City will be represented on the Hydro One Brampton Board by Mayor Susan Fennell and Linda Jeffrey, City Councillor for Ward 2.

Keith Matthews is the President and CEO of Hydro One Brampton, which will operate as a separate subsidiary in the Hydro One Family of Companies.

"Under Keith's leadership, Brampton Hydro earned a reputation as one of the top municipal electric utilities in Ontario," said Clitheroe. "We are pleased that he has agreed to lead Hydro One Brampton as we head into the competitive electricity marketplace."

Clitheroe also noted the impressive safety record of Hydro One Brampton. Earlier this week, Hydro One Brampton employees reached the milestone of 1.5 million hours of work without a lost time injury - only the second time this milestone has been reached by a municipal distribution utility.

Hydro One is a holding company that operates through its subsidiaries in electricity transmission and distribution, telecom and energy services. Through its Hydro One Networks and Hydro One Brampton subsidiaries it serves approximately 1.2 million customers across Ontario. Hydro One Brampton serves almost 88,000 electricity customers in one of the fastest growing regions in Ontario.

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For further information, please contact:
Terry Young, Director, Communications
TEL: (416) 345-6072