TORONTO, Jan. 10, 2012 /CNW/ - Today the Ontario Energy Board (the Board) announced electricity distribution rates for Oshawa PUC Networks Inc. (Oshawa). The new rates are effective January 1, 2012.
The delivery line of electricity bills will decrease by approximately $0.59 for Oshawa's residential customers using 800 kWh per month. The total bill impact is a decrease of 1.3%.
Oshawa requested $22,215,355 to cover their costs for the 2012 rate year. The Board approved a revenue requirement of $18,251,085. The application addresses necessary capital investments such as rebuilding aging transformer stations.
In its Decision, the Board accepted the settlement negotiated by Oshawa and the intervenors.
The settlement included a:
- reduction of $2,403,904 in depreciation expenses mainly due to a change in the estimates related to its assets;
- decrease of $1,004,395 in payments in lieu of taxes largely due to lower tax rates and a reduced taxable income;
- decrease of $351,211 in operating and maintenance expenses
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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