OEB announces electricity distribution rates for Ottawa River Power Corporation

TORONTO, Jan. 13 /CNW/ - Today the Ontario Energy Board (the Board) announced electricity distribution rates for Ottawa River Power Corporation (Ottawa River). The new rates are effective January 1, 2011.

The delivery line of electricity bills will decrease by approximately 48.4% or $14.48 for Ottawa River's residential customers using 800 kWh per month. The delivery line represents about one-third of the total bill.

Ottawa River requested $3,972,542 to cover its costs for the 2010 rate year. As a result of the Board's Decision Ottawa River will recover a revenue requirement of $3,955,284.

In its Decision, the Board approved OM & A costs of $2.57 million and capital costs of $1.17 million.

Ottawa River will also return a credit of $4.85 million to ratepayers over a period ending April 30, 2013 to clear certain deferral & variance accounts.

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.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: Media Inquiries: Vanda Wall, Ontario Energy Board, 416-544-5171; Public Inquiries: 416-314-2455 Or 1-877-632-2727


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