TORONTO, Oct. 30 /CNW/ - Today the Ontario Energy Board (the Board)
issued a Decision on an application by Great Lakes Power Limited (GLPL) for
2007 electricity distribution rates.
In its application, GLPL sought changes to the rates it charges for
electricity distribution effective September 1, 2007. As part of the
application, it sought approval to recover deferred revenue. It also requested
additional revenues through the Rural or Remote Electricity Rate Protection
GLPL requested a revenue requirement of $17.5 million. The Board approved
a slightly modified revenue requirement for GLPL's operation and also approved
the inclusion of about $8.9 million in revenue from the Rural or Remote
Electricity Rate Protection plan, in compliance with a government Regulation.
As part of the Decision, the Board disallowed GLPL's request to recover
$14.9 million in deferred revenue.
The resulting total bill increase for customers of GLPL will not be known
until GLPL files, and the Board has approved a final Rate Order reflecting
this decision. The effect is expected to be approximately 1.6% for an average
residential customer. The new rates are effective September 1, 2007. The
actual implementation date for the rates will be approved by the Board when it
issues the final Rate Order.
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.
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For further information:
For further information: Vanda Wall, Ontario Energy Board, (416)