Shaping today, transforming tomorrow. innovation, sustainability,
and community.

2024
Annual Report

Powering

Bernie Ashe

Chair, Board of Directors

Our customers and stakeholders can remain assured of our commitment to service excellence and our community.

Bryce Conrad

President and Chief
Executive Officer

We look forward to sustaining our 100-year legacy of enabling prosperity and progress, as we continue the journey to a smart energy future.

Learn more

Financial highlights

2024 was a year of strong performance across all of our core business lines. We experienced one of our highest levels of net income in recent years and positioned ourselves favourably for long-term growth by strengthening our financial capacity.

Hydro Ottawa Group embraces our twin responsibilities to serve as an essential service provider for our customers and to generate returns for our shareholder, the City of Ottawa. We remain committed to maximizing value over the short and long term, mindful that our earnings help support the funding of municipal programs and services that are vital to community wellbeing.

$389.4 M in revenue (excluding power recovery)
$42.1 M in net income
$191 M in capital investment
$2.8 B in assets
700+ GWh of clean electricity production
7.8 % return on equity

Advancing our
8-point strategy

Our 2021-2025 Strategic Direction outlines a balanced plan for sustainable growth, enhanced operational efficiency, and improved performance across environmental, social and governance (ESG) indicators.

In 2024, we achieved significant progress in advancing the 8-point plan which underpins our business strategy and our journey towards a smart energy future.