OEB announces electricity distribution rates for 3 electricity utilities

TORONTO, April 21 /CNW/ - Today the Ontario Energy Board (the Board) announced electricity distribution rates for the following utilities:

    • Festival Hydro Inc.
    • Grimsby Power Inc.
    • Hydro 2000 Inc.

Rates were set using incentive regulation guidelines, a formula that provides a standard adjustment to rates to account for inflation and to encourage productivity improvements. Bill impacts will vary with each utility, in part because of additional considerations such as recovering or repaying various account balances related to settlements with the Independent Electricity System Operator for commodity-related costs.

The Board has approved 2011 rates using its incentive regulation guidelines for 59 electricity utilities to date. The average overall bill increase from those rate adjustments is approximately 1.02% or $1.00 for residential customers using 800 kWh per month.

The new rates take effect May 1, 2011.

A table of estimated bill impacts on residential consumers' bills 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 towards this vision through regulation that is effective, fair and transparent. For more information on the Board, please visit our website 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

 


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