Performance highlights

Value To Our Shareholder

Financial Strength

Consolidated net income of $27.3 million
Dividends to the shareholder of $16.375 million were declared and paid in April 2008, exceeding forecasts by more than $2 million
Maintained A- credit rating while improving outlook from Stable to Positive
Normalized net income increased by almost 27 percent year over year
Improved cash flow from operations by $17.7 million year over year
Record performance at Telecom Ottawa, achieving EBITDA of 48 percent
Energy services business continued to grow, surpassing revenue expectations by 50 percent
Expanded energy generation capacity by 5.7 MW, or 35 percent
Expanded Hydro Ottawa Limited customer base by 4,600, and assets by 1.7 percent
Achieved a solid return on investments in broadband infrastructure through the sale of Telecom Ottawa

Maintained customer satisfaction near 85 percent for the second straight year
Ranked second among medium-sized utilities in Canada and second among all utilities in Ontario in a 2007 J.D. Power & Associates study of residential customer satisfaction
Maintained industry-leading service reliability in the electricity distribution system
Invested $41 million in system reliability
Maintained electricity distribution rates below the provincial average
Largest functioning Smart Meter system in Canada, eliminating field readings for many customers and simplifying customer moves and new connections

Assistance provided to more than 230 households and 750 individuals through $105,000 in contributions to the Winter Warmth Program over the past two years, helping families to stay warm and housed during the cold winter months
75.2 million kilowatt hours of electricity savings through Conservation and Demand Management programs in the past three years
Record contribution to the United Way of $126,225 through the annual employee campaign, ranking number seven in the business division
$58,000 contributed to the Ottawa School Breakfast Program, helping to provide a healthy morning meal to 8,200 students daily in 124 Ottawa schools
More than 19,000 elementary students educated about electricity safety and conservation through presentations at elementary schools
Co-Chair of the Employer Council of Champions of the Hire Immigrants Ottawa initiative
Sponsor: Safe Communities Ottawa; United Way Youth Action Day; Boys and Girls Club Leading Through Adventure youth leadership program; Special Needs Day at the Gloucester Fair

Electricity Distributors Association Local Distribution Company (LDC) Performance Excellence Award, sponsored by Ontario Power Generation
2007 Ontario Clean Air Alliance Peakbuster Award
Ottawa recognized by Ontario’s Chief Energy Conservation Officer for conservation leadership
2007 Ottawa Ambassador for Safety Business Partner Award, awarded by Safe Communities Canada
2007 Community Award, Ottawa Safety Council
Project of the Year Award for Smart Meter project, with Ontario Coalition of Large Distributors (CLD), awarded by Utility Automation and Engineering T&D
Health, Safety and Environment Systems International Certification – OHSAS 18001 Compliance
Recertification to the ISO 14001 Standard for Environmental Management Systems
Chief Executive Officer selected as one of Top 100 Most Powerful Women in Canada
Chief Financial Officer selected as one of Ottawa’s Top 40 Under Forty