OEB Issues Decision on Electricity Distribution Rate Application for Toronto Hydro-Electric System

    TORONTO, May 15 /CNW/ - Today the Ontario Energy Board (the Board) issued
its Decision on an application by Toronto Hydro-Electric System Limited
(Toronto Hydro) for electricity distribution rates 2008, 2009 and 2010.
    Distribution rates are set to recover the cost to deliver electricity to
consumers and reflect an individual utility's cost of service. Utilities apply
to have their proposed rates to deliver electricity reviewed by the Board
through a public process to determine what costs can be passed on to
consumers. Distribution rates are reflected in the "Delivery" line of
consumers' bills.
    Toronto Hydro applied for three sets of rates for each of the years 2008
through 2010. The Board found that it would approve rates for 2008 and 2009
only. In its Decision, the Board considered Toronto Hydro's extensive capital
plans for things like sustaining the distribution system, information
technology and smart meters, as well as operating maintenance and
administration costs.
    The Board also directed Toronto Hydro to file a draft rate order,
reflecting the findings in this Decision, and a schedule of proposed final
distribution rates for 2008.
    Bill impacts resulting from 2008 distribution rate decisions will be
announced in the coming weeks after the utilities have submitted draft rate
schedules to the Board reflecting today's decision. The Board will announce
the rate impacts when it approves and issues final rate orders to the
utilities.
    A table of the estimated bill impacts on residential consumers will be
available once any potential adjustments to the RPP are determined and as
specific rate orders for individual utilities are issued by the Board. This
table will be published on the Board's website www.oeb.gov.on.ca.
    For more information please refer to the 2008 Electricity Distribution
Rates Backgrounder on the OEB website site at
http://www.oeb.gov.on.ca/documents/communications/pressreleases/2008/backgroun
der_2008_EDR.pdf.

    The Ontario Energy Board regulates the province's electricity and natural
gas sectors in the public interest. It envisions a viable and efficient energy
sector with informed consumers served by responsive regulatory processes that
are effective, fair and transparent. For more information on the Board, please
visit our web site at www.oeb.gov.on.ca or contact the Consumer Relations
Centre at 416-314-2455 or toll-free at 1-877- 632-2727.

For further information: Vanda Wall, Ontario Energy Board, (416)
440-8149