TORONTO, April 22 /CNW/ - Today the Ontario Energy Board (the Board) announced electricity distribution rates for North Bay Hydro Distribution Limited (North Bay Hydro). The new rates are effective May 1, 2010.
The delivery line of electricity bills will increase by approximately 9.7% or $3.08 for North Bay Hydro's residential customers using 800 kWh per month. The delivery line represents about one-third of the total bill.
North Bay Hydro requested $12,642,754 to cover its costs for the 2010 rate year. As a result of the Board's alternate dispute resolution process, North Bay reached a settlement with intervenors in the application, which the Board approved. North Bay Hydro's approved settlement agreement will recover a revenue requirement of $12,124,962.
As part of the settlement agreement, North Bay Hydro:
- Reduced its proposed operations, maintenance and administration costs
- Updated its cost of capital to incorporate the Board's recent cost of
North Bay will also recover $456,003 from its ratepayers, over a period ending April 30, 2011, 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