TORONTO, May 7 /CNW/ - Today the Ontario Energy Board (the Board) announced electricity distribution rates for Kitchener-Wilmot Hydro Inc. (Kitchener-Wilmot). The new rates are effective May 1, 2010.
The delivery line of electricity bills will increase by approximately 8.7% or $2.23 for Kitchener-Wilmot's residential customers using 800 kWh per month. The delivery line represents about one-third of the total bill.
Included in its Decision, the Board reduced Kitchener-Wilmot's depreciation expenses and fixed assets, and updated Kitchener-Wilmot's cost of capital, which resulted in a reduction to Kitchener-Wilmot's revenue requirement from $40,631,182 to $39,787,323. The Board also approved disposing of 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