TORONTO, Feb. 16, 2012 /CNW/ - Today the Ontario Energy Board (the
Board) announced electricity distribution rates for Grimsby Power Inc.
(Grimsby). The new rates are effective January 1, 2012.
The delivery line of electricity bills will increase by approximately
$3.06 for Grimsby's residential customers using 800 kWh per month. The
total bill impact is an increase of 2.8%.
Grimsby requested $4,243,703 to cover their costs for the 2012 rate
year. As a result of the Board's Decision and a partial settlement
negotiated by Grimsby and intervenor groups, a revenue requirement of
$3,885,195 was approved. Grimsby proved its case for the increase in
staff and additional funds to enable the utility to operate in a
The partial settlement and Decision included:
Lower cost of capital to reflect lower long-term debt rates and the
Board's recently issued cost of capital parameters for rates effective
January 1, 2012;
a decrease of approximately $75,000 in operating, maintenance and
administration expenses; and
refund of balances for certain deferral and variance accounts.
A table of the estimated bill impacts on residential consumers is
available on our website at http://www.ontarioenergyboard.ca/OEB/_Documents/2012EDR/bill_impacts_2012.pdf
For more information please refer to the 2012 Electricity Distribution
Rates Backgrounder on our website site at http://www.ontarioenergyboard.ca/OEB/_Documents/Press+Releases/bckgrndr_2012.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
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SOURCE Ontario Energy Board
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Ontario Energy Board