Proposed Amendment to O. Reg. 53/05 (Payments under Section 78.1 of the Act), made under the Ontario Energy Board Act, 1998
Bill or Act:
Ontario Energy Board Act, 1998
Summary of Proposal:
The Ontario Energy Board (OEB) sets the rates that Ontario Power Generation (OPG) receives for the electricity generated from its regulated facilities, which includes the Darlington Nuclear Generating Station. Such rates are established in accordance with s.78.1 of the Ontario Energy Board Act, 1998 (OEBA) and Ontario Regulation 53/05 (Payments Under Section 78.1 of the Act). The OEB sets rates that allow OPG to recover OEB-approved costs over a given rate-setting period.
The 2013 Long-Term Energy Plan (LTEP) calls for the refurbishment of Darlington nuclear units to secure a long-term supply of cost-effective, clean and reliable baseload generation. OPG is presently in the final planning stages of the Darlington Refurbishment Project which will see all four Darlington units refurbished and returned to service. As a rate-regulated facility, the cost of the Darlington refurbishment is recoverable by OPG through the regulated rates approved by the OEB.
The Ministry of Energy is proposing to amend Ontario Regulation 53/05 to reduce volatility in OPG's regulated nuclear rates during and following the period of Darlington refurbishments, while permitting an orderly recovery of prudently incurred costs.
August 13, 2015
Comments Due Date:
September 28, 2015
77 Grenville St
Toronto ON M7A2C1