OEB announces 2010 electricity distribution rates for Burlington Hydro Inc.

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

The delivery line of electricity bills will increase by approximately 5.3% or $1.81 for Burlington's residential customers using 800 kWh per month. The delivery line represents about one-third of the total bill.

Burlington requested $32,410,162 to cover their costs for the 2010 rate year. The Board approved $31,062,284.

    
    In its Decision, the Board:

    -   Reduced Burlington's proposed capital expenditures by $800,000;
    -   Reduced proposed operations, maintenance and administration costs by
        $450,000;
    -   Updated Burlington's cost of capital to incorporate the Board's
        recent cost of capital parameters;
    -   Approved returning $4,674,629 to Burlington Hydro's ratepayers, over
        a period ending April 30, 2014, 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.

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For further information: Media Inquiries, Vanda Wall, Ontario Energy Board, [phone]; Public Inquiries, [phone] Or 1-877-632-2727