Haldimand "Hydro Rates to increase for Haldimand County"

OEB announces 2010 electricity distribution rates for Haldimand County Hydro Inc.

TORONTO, April 26 /CNW/ - Today the Ontario Energy Board (the Board) announced electricity distribution rates for Haldimand County Hydro Inc. (Haldimand). The new rates are effective May 1, 2010.

The delivery line of electricity bills will increase by approximately 12.7% or $5.66 for Haldimand's residential customers using 800 kWh per month. The delivery line represents about one-third of the total bill.

Haldimand requested $12,823,644 to cover its costs for the 2010 rate year. Haldimand was able to settle some of the issues through the Board's alternate dispute resolution process. As a result of the settlement agreement and the Board's Decision Haldimand will recover a revenue requirement of $12,646,747.


The settlement agreement and the Board's Decision:

- Reduced Haldimand's proposed operating expenses by $375,004;

- Updated the cost of capital to incorporate the Board's recent cost of
capital parameters;

- Will return $225,476 to its ratepayers, over a period ending
April 30, 2011, to clear certain deferral and variance account
balances.

A table of the estimated bill impacts on residential consumers is available on our website at http://www.oeb.gov.on.ca/OEB/_Documents/2010EDR/bill_impacts_2010.pdf.

For more information please refer to the 2010 Electricity Distribution Rates Backgrounder on our website site at http://www.oeb.gov.on.ca/OEB/_Documents/Press+Releases/bckgrndr_2010.pdf.

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.

For further information: Media Inquiries: Vanda Wall, Ontario Energy Board, (416) 544-5171; Public Inquiries, (416) 314-2455 Or 1-877-632-2727

The link below takes you to the website of the Ontario Energy Board.
http://www.newswire.ca/en/releases/archive/April2010/26/c5780.html