OEA Supports OEB Reform

TORONTO, ON -- - The Ontario Energy Association is pleased that its recommendations have been reflected in the government's proposed reforms to the Ontario Energy Board, announced this morning by Energy Minister John Baird to a sold-out audience at a breakfast event hosted by the Ontario Energy Association. The Minister also announced the appointment of Mr. Howard Weston as the new Chair of the OEB.

"Reform of the Ontario Energy Board has been the number one issue facing many of our members for a long time," said OEA Chair Peter Budd. "We have said that the Board must have the legislative framework, mandate and resources to serve Ontario's energy consumers and the regulated industry effectively and efficiently. The Minister's announcement this morning comes as welcome news to many of us."

"Our common objective must be to secure Ontario's energy future," added Bernard Jones, OEA President & CEO, "with regulation that is independent, streamlined, predictable, efficient, and cost effective. The effectiveness of Ontario's regulatory institutions should provide a competitive advantage for Ontario, for consumers and producers, as we compete with other jurisdictions for investment and jobs."

"The proposed reforms represent a significant positive change moving forward," said Jones. "We look forward to working with the Government and Mr. Weston as the legislation is introduced and as we move forward toward implementation."

In its November 22, 2002, submission to the Ontario Government, the OEA recommended a number of reforms for the OEB:

- The OEB must be independent and have a clear mandate to protect the interests of consumers, promote the interests of the industry, and establish a level playing field for competition in Ontario's energy industry.

- The OEB should be provided sufficient resources to accomplish its objectives in an effective and efficient manner.

- The OEB's plans and processes should be transparent and its performance should be measured and reported annually.

- The industry should be afforded a fair and reasonable opportunity to earn a return on its investments; rate-setting should be timely and pro-active.

- The OEB should support customer choice by ensuring non-discriminatory rules for regulated parties and a level playing field for competition in the industry.

- The OEB should support performance-based regulation that aligns public policy and private interest, reduces regulatory burden on the industry, and ensures, over time, that Ontario consumers get the lowest possible prices for natural gas and electricity.

The Ontario Energy Association's mission is to proactively foster a business environment conducive to a prosperous and sustainable energy industry. We represent the companies that do business in Ontario's energy industry, serving homes, farms and businesses across the Province. The Ontario Energy Association's members include regulated natural gas and electricity transmitters and distributors, producers, marketers, retailers, appliance and equipment manufacturers, contractors and suppliers, and firms supplying legal and consulting services to the industry.