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Fair Hydro Trust

Fair Hydro Trust

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OPG is the Financial Services Manager of the Fair Hydro Trust. The Trust is a separate financing entity under the Electricity Act, 1998 (Ontario) and as a legal matter, the assets and liabilities of the Trust do not form part of the assets and liabilities of OPG, and vice versa.


On April 24, 2018, the OPG-managed Fair Hydro Trust completed its second public debt offering of $400 million at 3.52 per cent. The Trust supports the government's Fair Hydro Plan by refinancing a portion of the Global Adjustment costs over a longer time, thereby reducing electricity bills for residential customers, farmers, and some small businesses by 25 per cent on average.

As a company that is owned by the people of Ontario, OPG is committed that the Fair Hydro Trust is managed in the most efficient and transparent way. The Fair Hydro Trust will continue to purchase assets from the IESO on an ongoing basis. Debt offerings to finance these assets will continue, up to two to three times a year as needed. OPG is committed to transparency, and will publicly report on the Fair Hydro Trust through its quarterly financial statements. Half the investors are from Ontario and the remainder are from across the country.

Quick facts on the transaction:

  • Amount: $400 million
  • Rating: DBRS AAA, Moodys Aa2
  • Term: 20 years
  • Yield: 3.52%


On Feb. 6, 2018, the OPG-managed Fair Hydro Trust completed its first public debt offering of $500 million at 3.357 per cent. The Trust supports the government's Fair Hydro Plan by refinancing a portion of the Global Adjustment costs over a longer time, thereby reducing electricity bills for residential customers, farmers, and some small businesses by 25 per cent on average.

As a company that is owned by the people of Ontario, OPG is committed that the Fair Hydro Trust is managed in the most efficient and transparent way. Going forward, the Fair Hydro Trust will continue to purchase assets from the IESO on an ongoing basis. Debt offerings to finance these assets will continue, up to two to three times a year as needed. OPG is committed to transparency, and will publicly report on the Fair Hydro Trust through its quarterly financial statements.

Quick facts on the transaction:

  • Amount: $500 million
  • Rating: DBRS AAA, Moodys Aa2
  • Term: 15.25 years
  • Yield: 3.357%