TORONTO, Nov. 9 /CNW/ - Today the Ontario Energy Board (the Board) approved an application by Union Gas Limited (Union) for an annual incremental rate adjustment. The change is part of its multi-year incentive rate mechanism for regulated natural gas distribution, transmission and storage services.
Union's five-year Incentive Regulation Plan began January 1, 2008. Today's approved adjustments, which take effect January 1, 2010, are based on a formula for incremental costs that include the inflation rate and a productivity factor. Also, the new rates incorporate additional approved costs.
For Union's residential customers, the impact range will be an additional $6 to $8 a year for those consuming 2,600 cubic metres (m(3)) annually. This represents an increase of 0.7% on the total annual residential bill.
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 website at www.oeb.gov.on.ca or contact the Consumer Relations Centre at the numbers below.
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SOURCE Ontario Energy Board
For further information: For further information: Media Inquiries: Ontario Energy Board, (416) 544-5171, Paul Crawford; Public Inquiries: (416) 314-2455, Or 1-877-632-2727