TORONTO, May 9 /CNW/ - Today the Ontario Energy Board (the Board) announced electricity distribution rates for Brant County Power Inc. (Brant County) will decrease. The new rates are the result of a decrease in costs to provide service.
The rate change announced today represents a decrease on the overall bill of approximately $2.77 or 2.65% for residential customers using 800 kWh per month. The delivery line represents about one-third of the total bill. The rates will be effective May 1, 2011.
Brant County requested $6,466,128 to cover its costs for the 2011 rate year. As a result of the Board's alternate dispute resolution process, Brant County reached a settlement with intervenors in the application which the Board approved. Brant County's approved settlement agreement will recover a revenue requirement of $6,173,189 for the 2011 rate year.
In the settlement agreement, Brant County:
- Reduced its proposed capital expenditures by $118,285;
- Will return $1,913,004 to its ratepayers over a period ending
April 30, 2012, to clear certain deferral and variance account
balances related to those customers.
- Updated its cost of capital to incorporate the Board's recent cost of
A table of the estimated bill impacts on residential consumers is available on our website at http://www.ontarioenergyboard.ca/OEB/_Documents/2011EDR/bill_impacts_2011.pdf.
For more information please refer to the 2011 Electricity Distribution Rates Backgrounder on our website site at http://www.ontarioenergyboard.ca/OEB/_Documents/Press+Releases/bckgrndr_2011.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 and works toward this vision through regulation that is effective, fair and transparent. For more information on the Board, please visit our web site at www.ontarioenergyboard.ca or contact the Consumer Relations Centre at 416-314-2455 or toll-free at 1-877- 632-2727.
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SOURCE Ontario Energy Board
For further information: Media Inquiries, Vanda Wall, Ontario Energy Board, 416-544-5171; Public Inquiries, 416-314-2455 Or 1-877-632-2727