Agencies, Boards, Commissions and Corporations (ABCCs) > Ontario Business Corporation Act (OBCA Corporations)
Toronto Hydro Corporation Board of Directors
Toronto Hydro is incorporated under the Ontario Business Corporations Act, with the City of Toronto as its sole shareholder.
Toronto Hydro Corporation is a reporting issuer under the Ontario Securities Act and is regulated by the Ontario Securities Commission.
The Corporation operates two wholly owned affiliates: Toronto Hydro-Electric System Limited and Toronto Hydro Energy Services Inc.
Toronto Hydro-Electric System Limited is the electricity distribution company. It is the largest municipal electricity distribution company in Canada and delivers electricity to approximately 684,000 residential, commercial and industrial customers in the City of Toronto. Toronto Hydro-Electric System Limited is regulated by the Ontario Energy Board.
Toronto Hydro Energy Services Inc. is the energy services company. It provides street lighting services and energy efficient products and services.
Board responsibilities
The board of directors is responsible for supervising the management of the business and affairs of Toronto Hydro Corporation, including the following specific matters:
- establishing appropriate reserves consistent with sound financial principles and financial performance objectives
- approving any dividend payment or distribution of capital
- selecting bankers and other financial institutions and establishing all banking authorities
- directing labour and employee relations matters
- appointing the officers of the Corporation
Term of office
Two years with a renewal term of two years (without recruitment, with full recruitment every four years).
Composition
The board consists of 12 members:
- the Mayor or a designate appointed by the Mayor
- 3 members of Council appointed by City Council
- 8 citizen members
Meetings
Approximately quarterly or at the call of the Chair.
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