OEB issues decision to dispose of Enersource variance account balances

TORONTO , Jan. 29 /CNW/ - Today the Ontario Energy Board (the Board) issued a Decision and Rate Order approving an application by Enersource Hydro Mississauga Inc. (Enersource) to dispose of several deferral and variance account balances.

A balance of $29 million will be returned to all Enersource consumers over a two year period. A separate account balance of $41 million will be collected from Enersource consumers who are not on the Regulated Price Plan (RPP) over the same two year period. In this case, the deferral and variance accounts record differences between what Enersource charged its customers and what it paid for electricity.

As a result, the delivery portion of bills for residential consumers on the RPP who use approximately 800 kWh of electricity per month will decrease by approximately 4.5%, or $1.44 . Bills for residential customers who have signed contracts with an energy retailer will increase by approximately 5.5%, or $1.76 per month.

The changes take effect February 1, 2010 .

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