TORONTO, May 7 /CNW/ - Today the Ontario Energy Board (the Board) announced electricity distribution rates for Cambridge and North Dumfries Hydro Inc. (Cambridge & North Dumfries). The new rates are effective May 1, 2010.
The delivery line of electricity bills will decrease by approximately 2.9% or $0.82 for a Cambridge & North Dumfries residential customer using 800 kWh per month. The delivery line represents about one-third of the total bill.
Cambridge & North Dumfries requested $24,958,934 to cover their costs for the 2010 rate year. The Board approved $24,691,476.
In its Decision, the Board:
- Approved capital expenditures of $1.85 million for a new CIS and
billing system scheduled for late 2010. If expenditures are less than
$1.85 million the difference will be returned to customers.
Expenditures over $1.85 million will be borne by Cambridge & North
- Reduced proposed operations, maintenance and administration costs by
- Updated Cambridge & North Dumfries cost of capital to incorporate the
Board's recent cost of capital parameters; and
- Approved returning $11,308,718 to Cambridge & North Dumfries'
ratepayers, over a period ending April 30, 2012, to clear certain
deferral and variance account balances.
A table of the estimated bill impacts on residential consumers is available on our website at http://www.oeb.gov.on.ca/OEB/_Documents/2010EDR/bill_impacts_2010.pdf.
For more information please refer to the 2010 Electricity Distribution Rates Backgrounder on our website site at http://www.oeb.gov.on.ca/OEB/_Documents/Press+Releases/bckgrndr_2010.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.oeb.gov.on.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: For further information: Media Inquiries, Vanda Wall, Ontario Energy Board, (416) 544-5171; Public Inquiries, (416) 314-2455 Or 1-877-632-2727