TORONTO, Feb. 4 /CNW/ - Today the Ontario Energy Board issued a Decision
on an application by Enbridge Gas Distribution Inc. (Enbridge) for an order or
orders approving the balance in the 2007 Class Action Suit Deferral Account
(the Account) and disposition of that balance.
The balance in the Account is a result of the resolution of a long
standing class action lawsuit related to late payment penalties. Parties to
the lawsuit reached a settlement involving payment of $22 million. This
settlement was approved by the Ontario Superior Court on December 8, 2006.
The issue for the Board was whether the court-approved amount and related
amounts should be recovered from ratepayers.
The Board found all costs (settlement, legal fees and interest) in the
Class Action Suit Deferral Account are recoverable from ratepayers.
The estimated impact for a five year recovery period is $2.70 per year
for a residential customer.
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:
For further information: Vanda Wall, Ontario Energy Board, (416)