TORONTO — Hydro One Ltd. reported its second-quarter profit and revenue rose compared with a year ago.

The power utility says it earned $370 million in net income attributable to common shareholders or 62 cents per diluted share for the quarter ended June 30.

The result compared with a profit of $327 million or 54 cents per diluted share in the same quarter last year.

It says higher earnings per share was largely due to increased revenues from Ontario Energy Board-approved rates and higher peak demand.

Revenue totalled $2.30 billion, up from $2.07 billion in the second quarter of 2025.

In June, Megan Telford became the company’s chief executive as former CEO David Lebeter retired from the top job.

This report by The Canadian Press was first published Aug. 12, 2026.

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The Canadian Press