In September 2020, Hydro Ottawa officially received its ISO 55001:2014 certification, known as the highest achievement for compliance with best practices in the utility industry for asset management. The certification can only be attained through a rigorous independent audit, and is based on current industry best practices.
Not only is Hydro Ottawa the first electric utility in Canada to receive this certification, but it is one of only three other North American peers in the ISO electrical category to do so. The New York Power Authority, AES Mexico and AES Puerto Rico are among our ISO 55001 cohorts.
In addition to meeting seven of the UN’s 17 Sustainable Development Goals that address some of the most pressing issues in the world, our certification signifies superior asset management practices that enable us to achieve a number of important operational and financial goals. They include improving risk management and environmental compliance in reduced costs of our capital investments and operations.
This certification showcases our commitment to continuous improvement to deliver safe, low-cost, clean, reliable power and innovative energy infrastructure and services to our customers and our community.
With ISO 55001:2014 certification, Hydro Ottawa and our customers benefit from:
- enhanced risk management (with better predictability to future performance of our assets)
- environmental regulation compliance
- trust and confidence of investors and stakeholders
- reduced capital and operational costs
- a set framework for dealing with subcontractors
- a safer environment (for customers, employees and the assets themselves)
The ISO 55001:2014 standard contributes to the following United Nations Sustainable Development Goals:
- clean water and sanitation
- affordable and clean energy
- decent work and economic growth
- industry, innovation and infrastructure
- sustainable cities and communities
- responsible consumption and production
- climate action