OEB Issues Decision with Reasons in Hydro One Transmission Proceeding

    TORONTO, May 28 /CNW/ - Today the Ontario Energy Board (OEB) issued its
Decision with Reasons regarding Hydro One Networks Inc.'s (Hydro One)
application for approval of its transmission revenue requirement and rates for
2009 and 2010 (File: EB-2008-0272). Today's Decision will impact delivery
rates for all electricity consumers in Ontario.
    Hydro One applied for a revenue requirement of $1,232.7 million for 2009
and $1,341.0 million for 2010. Today's Decision will result in lower revenue
requirements for 2009 and 2010. In particular, the Board reduced Hydro One's
operating expenditures by about $20 million in each year, including reductions
of $4 million related specifically to compensation.
    Hydro One requested rate approval for capital expenditures totaling
$897.2 million in 2009 and $854.9 million in 2010. The Board approved most of
the projects and the associated rate impacts, but it declined to approve about
$180 million in development capital projects which Hydro One had proposed. For
the purposes of 2010 rates the Board indicated that it will reconsider these
projects if Hydro One provides evidence supporting the projects by the end of
November 2009.
    The Board also approved the disposition of three deferral accounts which
will result in an $18.3 million reduction in rates over the period July 2009
to December 2010.
    The Board's Decision for Hydro One transmission revenues will form part
of the calculation of the Uniform Ontario Transmission Rates, which include
Ontario's other transmitters (Great Lakes Power Limited, Five Nations Energy
Inc. and Canadian Niagara Power Inc.). The Uniform Transmission Rate
proceeding will begin shortly with the intent to implement new transmission
rates on July 1, 2009.

    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 towards this vision through
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.

    Ce document est aussi disponible en français.

For further information:

For further information: Paul Crawford, Ontario Energy Board, (416)

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