Transmission was the largest of Hydro One Ltd’s 3 reported lines in fiscal 2025, at $4.82B — 88% of $5.45B.
| Product and Service | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|---|---|
| Transmission | $23.00M | — | — | $4.82B | |||||
| Distribution | $287.00M | $5.58B | $6.22B | $580.00M | |||||
| Electricity, Us Regulated | $247.00M | — | — | — | |||||
| Other | — | — | $40.00M | $55.00M | |||||
| Other (Note 28) | — | $48.00M | — | — | |||||
| Other Revenue | $43.00M | — | — | — | |||||
| Total | $600.00M | $5.63B | $6.26B | $5.45B |
In fiscal 2025, which ended December 31, 2025, the 3 revenue lines Hydro One Ltd reported in this breakdown added up to $5.45B. The revenue lines reported changed from fiscal 2024, so the total is not directly comparable with the $6.26B reported that year. Transmission was the largest revenue line, at $4.82B or 88.4% of the total, followed by Distribution ($580.00M, 10.6%) and Other ($55.00M, 1.0%). Together, the two largest revenue lines made up 99.0% of this total.
Other was first reported as a separate revenue line in fiscal 2024. The table also keeps 3 revenue lines that Hydro One Ltd no longer reports, so earlier years can still be read on their original basis; use "Show 3 discontinued" beneath the table to see them. This breakdown covers every fiscal year from 2017 to 2025, as reported in Hydro One Ltd's annual filings.
Ieso was the largest of Hydro One Ltd’s 3 reported lines in fiscal 2025, at $2.52B — 51% of $4.92B.
| Related and Nonrelated Parties | FY 2022 | FY 2025 |
|---|---|---|
| Ieso | $2.31B | $2.52B |
| Related Party | $2.35B | $2.39B |
| Opg | $5.00M | $8.00M |
| Total | $4.67B | $4.92B |
In fiscal 2025, which ended December 31, 2025, the 3 revenue lines Hydro One Ltd reported in this breakdown added up to $4.92B. That is less than the $5.45B in its breakdown by revenue line, so these revenue lines do not account for all of its revenue that year. Ieso was the largest revenue line, at $2.52B or 51.3% of the total, followed by Related Party ($2.39B, 48.6%) and Opg ($8.00M, 0.2%). Together, the two largest revenue lines made up 99.8% of this total.
Compared with fiscal 2022, the latest earlier year reported, Ieso grew the fastest, rising 9.2% to $2.52B.
This breakdown covers 2 fiscal years between 2022 and 2025, as reported in Hydro One Ltd's annual filings.
Distribution was the largest of Hydro One Ltd’s 2 reported lines in fiscal 2024, at $6.18B — 99% of $6.22B.
| Statement Business Segments | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2024 |
|---|---|---|---|---|---|---|
| Distribution | $5.36B | $5.66B | $6.18B | |||
| Transmission | $1.82B | $2.08B | — | |||
| Other | $42.00M | $43.00M | $40.00M | |||
| Total | $7.23B | $7.78B | $6.22B |
In fiscal 2024, which ended December 31, 2024, the 2 segments Hydro One Ltd reported in this breakdown added up to $6.22B. The segments reported changed from fiscal 2022, so the total is not directly comparable with the $7.78B reported that year. Distribution was the largest segment, at $6.18B or 99.4% of the total, followed by Other ($40.00M, 0.6%).
The table also keeps 1 segment that Hydro One Ltd no longer reports, so earlier years can still be read on their original basis; use "Show 1 discontinued" beneath the table to see them. This breakdown covers 6 fiscal years between 2018 and 2024, as reported in Hydro One Ltd's annual filings.
Hydro One Ltd (HRNNF) breaks its revenue down by revenue line and segment. In fiscal 2025, its largest revenue line was Transmission, with $4.82B or 88.4% of the total, followed by Distribution at $580.00M (10.6%).
Transmission was Hydro One Ltd's largest revenue line in fiscal 2025, with $4.82B in revenue, 88.4% of the $5.45B reported across its 3 revenue lines.
Distribution was Hydro One Ltd's largest segment in fiscal 2024, with $6.18B in revenue, 99.4% of the $6.22B reported across its 2 segments.
Every figure is taken from Hydro One Ltd's annual financial filings and shown as reported: each line keeps the name the company gives it, years follow its own fiscal calendar, and lines it has stopped reporting stay in the table for the years they were reported.
The breakdown by revenue line covers fiscal 2017 to 2025. The latest four fiscal years are free to view, and the full history is available with a Business Quant subscription.