Hydro One proposes $1.3B North Shore power line

Hydro One Limited (HRNNF), through subsidiaries Hydro One Networks Inc. and Hydro One Sault Ste.

Rhea-AI Filing Summary

Hydro One Limited (HRNNF), through subsidiaries Hydro One Networks Inc. and Hydro One Sault Ste. Marie LP, has applied to the Ontario Energy Board for leave to construct the North Shore Link, a new 230-kilovolt transmission line between Mississagi Transformer Station near Wharncliffe and Third Line Transformer Station in Sault Ste. Marie. The project represents a planned $1.3 billion investment to strengthen connections between northeastern and northwestern Ontario and enhance resiliency of the northern transmission system, with the line expected to be in service in 2029. Nine potential First Nation partners will have the opportunity, under Hydro One’s First Nation Equity Partnership Model, to invest in a 50% equity stake in the transmission line component, with ongoing collaboration on planning, development and construction.

Hydro One reports it is Ontario’s largest electricity transmission and distribution provider with 1.5 million customers, $39.7 billion in assets and $9 billion in annual revenues in 2025, supported by 9,600 employees. In 2025 it invested $3.4 billion in its networks and purchased $3.0 billion of goods and services.

Key Figures

North Shore Link investment: $1.3 billion In-service date: 2029 First Nation equity stake opportunity: 50% +5 more

8 metrics

North Shore Link investment $1.3 billion Planned capital investment for the new transmission line project

In-service date 2029 Expected in-service year for the North Shore Link

First Nation equity stake opportunity 50% Equity stake in transmission line component available to First Nation partners

Potential First Nation partners 9 Number of potential First Nation partners identified for the project

Assets $39.7 billion Assets as at December 31, 2025

Annual revenues $9 billion Annual revenues in 2025

Capital investment $3.4 billion Investment in transmission and distribution networks in 2025

Goods and services purchased $3.0 billion Purchases made in 2025 supporting the economy

Key Terms

leave-to-construct application, Ontario Energy Board, First Nation Equity Partnership Model, transmission line, +1 more

5 terms

leave-to-construct application regulatory

"filed a joint leave-to-construct application with the Ontario Energy Board"

Ontario Energy Board regulatory

"filed a joint leave-to-construct application with the Ontario Energy Board"

First Nation Equity Partnership Model financial

"Through Hydro One’s First Nation Equity Partnership Model, nine potential First Nation"

transmission line technical

"a new 230-kilovolt transmission line connecting Mississagi Transformer Station"

A transmission line is the infrastructure—wires, towers, ducts or cables—that carries electricity or data over long distances from producers to users or networks. Investors care because these lines determine how reliably and cheaply power or communications can be delivered; like a highway for goods, congested or aging lines can cause delays, extra costs, outages or regulatory expenses that affect revenue, maintenance needs and future growth prospects.

medium term notes financial

"certain of Hydro One Inc.’s medium term notes are listed on the NYSE"

Medium term notes are debt securities companies or governments sell to borrow money for a few years—generally from about two to ten years—paying regular interest and returning your principal at maturity. Think of them like an IOU with a set length and interest schedule that investors can buy to earn income; they matter because their credit quality, interest rate type (fixed or floating) and maturity affect how much return and risk an investor takes on compared with short-term bills or long-term bonds.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What major project did Hydro One Ltd (HRNNF) announce in this 6-K?

Hydro One announced it has applied for approval to build the North Shore Link, a new 230-kilovolt transmission line between Mississagi TS near Wharncliffe and Third Line TS in Sault Ste. Marie, as part of a broader effort to strengthen Ontario’s northern transmission system.

What is the expected investment and timing for Hydro One’s North Shore Link project?

The North Shore Link represents a planned $1.3 billion investment. The new 230-kilovolt transmission line is expected to be in service in 2029, subject to approval of the leave-to-construct application by the Ontario Energy Board.

How are First Nations expected to participate in Hydro One’s North Shore Link?

Through Hydro One’s First Nation Equity Partnership Model, nine potential First Nation partners will have the opportunity to invest in a 50% equity stake in the transmission line component, collaborating with Hydro One on planning, development and construction.

What role does the Ontario Energy Board play in the Hydro One (HRNNF) project?

Hydro One Networks Inc. and Hydro One Sault Ste. Marie LP filed a joint leave-to-construct application with the Ontario Energy Board under Section 92 of the Ontario Energy Board Act, 1998. Approval from the Board is required to construct, expand or reinforce the transmission system.

What key 2025 financial and operational figures did Hydro One Ltd (HRNNF) highlight?

Hydro One reported $39.7 billion in assets and $9 billion in annual revenues in 2025, serving 1.5 million customers with 9,600 employees. In 2025 it invested $3.4 billion in transmission and distribution networks and purchased $3.0 billion of goods and services.

What corporate securities information did Hydro One Ltd provide?

Hydro One stated that its common shares are listed on the TSX, and certain of Hydro One Inc.’s medium term notes are listed on the NYSE, with additional information available on its website, SEDAR+ and the SEC’s website.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER

Pursuant to Rule 13a-16 or 15d-16

under the Securities Exchange Act of 1934

For the month of: September 2026

Commission File Number: 333-225519-01

HYDRO ONE LIMITED

(Translation of Registrant’s name into English)

483 Bay Street, South Tower, 8th Floor, Toronto Ontario M5G 2P5 Canada

(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F ☐   Form 40-F ☒

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

HYDRO ONE LIMITED

/s/ Cassidy McFarlane

Name: Cassidy McFarlane

Title: General Counsel

Date: September 11, 2026

EXHIBIT INDEX

99.1 News Release dated September 11, 2026

Exhibit 99.1

Hydro One seeks approval from the Ontario Energy Board to build the North Shore Link

The new line is expected to strengthen the electricity system and support economic growth in the northeast

TORONTO, September 11, 2026 /CNW/ - Today, Hydro One Networks Inc. (Hydro One) and Hydro One Sault Ste. Marie LP (HOSSM) filed a joint leave-to-construct application with the Ontario Energy Board (OEB) to seek approval to construct the North Shore Link.

Once approved, Hydro One will construct the proposed North Shore Link, a new 230-kilovolt transmission line connecting Mississagi Transformer Station (TS) near Wharncliffe to HOSSM-owned Third Line TS in Sault Ste. Marie. As part of the project, Hydro One will upgrade Mississagi TS and expand nearby Algoma TS to meet system requirements, while HOSSM will manage all upgrades to Third Line TS. The $1.3 billion investment is expected to strengthen the connection between the northeast and northwest and improve the resiliency of the northern transmission system. The line is expected to be in service in 2029.

Through Hydro One’s First Nation Equity Partnership Model, nine potential First Nation partners will have the opportunity to invest in a 50 per cent equity stake in the transmission line component of the project. Together, Hydro One and participating First Nations will continue to collaborate on the planning, development and construction of the line.

“Electricity demand in Ontario is increasing. At the same time, infrastructure is aging and severe weather events are becoming more frequent. Communities and local businesses depend on reliable electricity to power daily life and the time to invest in the system is now,” said Ryan Docherty, Executive Vice President, Capital Portfolio Delivery, Hydro One. “The North Shore Link is one in a series of significant investments that we’ll advance with First Nations. Together, we are building a stronger, more resilient electricity grid that will support economic growth and help meet Ontario’s future electricity needs.”

Filing a leave-to-construct application under Section 92 of the Ontario Energy Board Act, 1998 is required for electricity transmitters in Ontario to obtain approval from the OEB to construct, expand or reinforce the transmission system. The application includes details on the project’s route, design, timing and cost.

For more information about the project, visit HydroOne.com/NorthShoreLink.

Hydro One Limited (TSX: H)

Hydro One Limited, through its wholly-owned subsidiaries, is Ontario’s largest electricity transmission and distribution provider with 1.5 million valued customers, $39.7 billion in assets as at December 31, 2025, and annual revenues in 2025 of $9 billion.

Our team of 9,600 skilled and dedicated employees proudly build and maintain a safe and reliable electricity system which is essential to supporting strong and successful communities. In 2025, Hydro One invested $3.4 billion in its transmission and distribution networks, and supported the economy through buying $3.0 billion of goods and services.

We are committed to the communities where we live and work through community investment, sustainability and diversity initiatives.

Hydro One Limited’s common shares are listed on the TSX and certain of Hydro One Inc.’s medium term notes are listed on the NYSE. Additional information can be accessed at www.hydroone.com/, www.sedarplus.com or www.sec.gov.

For More Information

For more information about everything Hydro One, please visit www.hydroone.com where you can find additional information including links to securities filings, historical financial reports, and information about the Company’s governance practices, corporate social responsibility, customer solutions, and further information about its business.

Forward-looking statements and information:

This press release may contain “forward-looking information” within the meaning of applicable Canadian securities laws and “forward-looking statements” within the meaning of applicable U.S. securities laws (collectively, “forward-looking information”). Statements containing forward-looking information are made pursuant to the “safe harbour” provisions of applicable Canadian and U.S. securities laws. Words such as “expect”, “anticipate”, “intend”, “attempt”, “may”, “plan”, “will”, “can”, “believe”, “seek”, “estimate”, and variations of such words and similar expressions are intended to identify such forward-looking information. These statements are not guarantees of future performance or actions and involve assumptions and risks and uncertainties that are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed, implied or forecasted in such forward-looking information. Some of the factors that could cause actual results or outcomes to differ materially from the results expressed, implied or forecasted by such forward-looking information, including some of the assumptions used in making such statements, are discussed more fully in Hydro One’s filings with the securities regulatory authorities in Canada, which are available on SEDAR+ at www.sedarplus.com. Hydro One does not intend, and it disclaims any obligation, to update any forward-looking information, except as required by law.

Filing Exhibits & Attachments

1 document

Press Releases

• EX-99.1 EX-99.1 8.0 KB