TORONTO, May 13, 2026 /CNW/ - Toronto Hydro Corporation (Toronto Hydro) today announced its financial and operating results for the first quarter ended March 31, 2026.
Net income after net movements in regulatory balances for the three months ended March 31, 2026, was $46.5 million, a decrease of $6.7 million compared to the same period last year. This decline was mainly due to higher net credits deferred into regulatory accounts resulting from recent federal capital cost allowance changes.
As part of Toronto Hydro's commitment to powering Toronto's energy needs through increasing distribution grid capacity and system resiliency, it has embarked on a $5.1 billion five-year investment plan. Capital expenditures for the three months ended March 31, 2026, were $250.5 million, an increase of $5.8 million or 2.4 per cent compared to the same period last year. Key capital investments included the delivery of customer connections, replacement of overhead infrastructure, and customer‑initiated asset relocations and expansions, including work supporting major city‑building and economic development projects such as the Eglinton Crosstown LRT, electric bus charging infrastructure at the TTC's Mount Dennis bus garage and a large‑scale data centre development in north Toronto.
Selected financial and operational highlights
(in millions of Canadian dollars)
Three months ended
March 31
2026
$
2025
$
Distribution revenue
254.4
240.2
Net income after net movements in regulatory balances
46.5
53.2
Capital expenditures
250.5
244.7
FIRST QUARTER PERFORMANCE HIGHLIGHTS
Financial Performance and Developments
On April 8, Toronto Hydro and the City of Toronto
