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In a letter to the Hon. Brad Duguid the Public Interest Advocacy Centre asked for a reconsideration of a key energy rate decision. The Ontario Energy Board decision (EB 2009-0084) establishing rates of return on equity for public and private utilities is flawed Michael Janigan, PIAC executive director wrote on Sept. 27.
Janigan, who represented the Vulnerable Energy Consumers Coalition at the hearing noted no evidence was presented about Ontario utilities having trouble accessing capital. He called the decision to change ROE formula surprising and the decision to hold no further hearings unfair. He writes the decision will cost Ontario consumers $285 million a year.
In its letter PIAC asks the Minister of Energy to instruct the OEB to hold full public hearings on the appropriate return on equity for regulated utilities.
The letter to the Minister is at:
LINK TEXT [pdf file: 0.27mb]