Hydro One Ltd. said Monday that it is again facing a one-time hit to profit of as much as $885 million after a regulatory review panel upheld a decision forcing the Ontario electrical utility to share some future tax savings with its customers.
It was the latest slight for Toronto-based Hydro One, which has fought losing battles recently over its executive pay and a major merger attempt in the United States.
On March 7, the Ontario Energy Board (OEB) issued a ruling involving a dispute between the regulator and Hydro One over the plans for approximately $2.6 billion in future tax savings.
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