TORONTO, Aug. 28 /CNW/ - Today the Ontario Energy Board (the Board)
issued a Decision and Rate Order on an application by Hydro One Networks Inc.
(Hydro One) for just and reasonable rates and other charges for the
transmission of electricity, commencing January 1, 2009.
Hydro One's application seeks adjustments to the Ontario Uniform
Transmission Rate Schedules, which were previously adjusted by the Board in
its Ontario Uniform Transmission Rate Order of October 17, 2007. This Order
approved a rate schedule to recover the revenue requirements of electricity
transmitters in the Ontario Transmission Rates Pool, which include Hydro One,
Great Lakes Power Limited, Canadian Niagara Power Inc. and Five Nations Energy
Hydro One's present application arose as a result of the Board's
decisions in previous transmission rate proceedings in which it directed Hydro
One to implement: an Earnings Sharing Mechanism (ESM) to allow excess earnings
of Hydro One's transmission business for the period from January 1, 2006,
until new transmission rates were implemented, to be shared equally by
ratepayers and Hydro One; and a 2007 Revenue Difference Deferral Account
(RDDA) to capture the difference between revenue determined from the rates
that resulted from the 2007 proceeding, and the revenue determined using the
approved transmission rates that were current at the time, until new uniform
transmission rates were implemented.
In order to reflect the appropriate repayment to transmission customers,
the Board's October 17, 2007 order incorporated a reduction in Hydro One's
approved revenue requirement. Hydro One's over-recovery from its customers
arising from both the ESM and RDDA will be repaid by December 31, 2008.
The Uniform Transmission Rates adjustment approved today will allow Hydro
One to recover the Board approved 2008 revenue requirement starting January 1,
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 served by responsive regulatory processes that
are 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.
Ce document est aussi disponible en français.
For further information:
For further information: Vanda Wall, Ontario Energy Board, (416)