TORONTO, Jan. 26, 2012 /CNW/ - Today the Ontario Energy Board (the Board) announced electricity distribution rates for Hydro Ottawa Limited (Hydro Ottawa). The new rates are effective January 1, 2012.
The delivery line of electricity bills will decrease by approximately $0.81 for Hydro Ottawa's residential customers using 800 kWh per month. The total bill impact is a decrease of 1.0%.
Hydro Ottawa requested $157,171,678 to cover their costs for the 2012 rate year, and subsequently revised the request to $159,275,699. As a result of the Board's Decision and a partial settlement negotiated by Hydro Ottawa and intervenor groups, a revenue requirement of $153,847,072 was approved. The application addresses necessary capital investments such as rebuilding aging transformer stations.
The partial settlement and Decision included:
- a decrease of $2,897,540 in operating, maintenance and administration expenses and property taxes;
- 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; and
- recovery 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 1-877- 632-2727.
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