OEB issues rate order on 2009 electricity distribution rates for Midland Power Utility Corporation

    TORONTO, June 23 /CNW/ - Today the Ontario Energy Board (the Board)
issued a Rate Order to reflect its Decision on 2009 electricity distribution
rates for Midland Power Utility Corporation (Midland). The new rates are
effective May 1, 2009, but will not be implemented until July 1, 2009.

    As a result of the rates approved by this Rate Order, the delivery
portion of the bill associated with the cost to distribute electricity will
increase by approximately 1.4% or $0.61 for Midland's residential customers
using 1,000 kWh per month. Consumers will also pay an additional $2.93 per
month for two months to recover foregone revenue. In its application Midland
had requested a distribution rate increase of approximately 8.8%. The delivery
portion represents about one-third of the total bill.

    Midland requested rates to recover a forecasted revenue requirement of
$3,582,721 for the 2009 rate year. As a result of the Board Decision,
Midland's rates will recover a revised revenue requirement of $3,390,378.

    In its Decision, the Board incorporated:
    -  A rate base of $12,202,110 for 2009;
    -  A 28% increase in the proposed 2009 capital expenditures over 2008,
       primarily to replace its aging infrastructure (six substations) and
       old vehicles to improve system reliability;
    -  Midland's smart meter installation plan, at an estimated cost of $190
       per meter.

    A table of the estimated bill impacts on residential consumers is
available on the Board's website at

    For more information please refer to the 2009 Electricity Distribution
Rates Backgrounder on the Board's website site at

    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 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)

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