OEB Issues Decision on Welland Hydro-Electric System Corporation's 2007 Electricity Distribution Rates

    TORONTO, Dec. 24 /CNW/ - Today the Ontario Energy Board (the Board)
issued a Decision and Order approving an amendment to the 2007 electricity
distribution rates for Welland Hydro-Electric System Corporation (Welland
    Welland Hydro's application sought to correct what it considered to be an
anomaly in its 2007 rates process which resulted in its Payments in Lieu of
Taxes (PILs) expense provision being unreasonably low.
    In its Decision, the Board found that Welland Hydro's request to adjust
its 2007 rates to reflect the elimination of historical loss carry-forwards by
December 31, 2006 was supported by the evidence. The Board also noted that the
impact of the approved adjustment on a typical customer's total electricity
bill was no more than 1.3%.
    The Board approved the requested relief effective October 1, 2007,
however, given the timing of this Decision and Welland Hydro's need to provide
a proposed Tariff of Rates and Charges, the Board determined February 1, 2008
to be the earliest practical implementation date. It therefore determined that
the foregone revenue for the period between October 1, 2007 and January 31,
2008 be recorded in a deferral account to be reviewed and disposed of at a
later date.

    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 website at
www.oeb.gov.on.ca or contact the Consumer Relations Centre at 416-314-2455 or
toll-free at 1-877-632-2727.

For further information:

For further information: Vanda Wall, Ontario Energy Board, (416)

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