EUB Approves Interim Refund Riders for Fortis Alberta

Calgary, Alberta -- - The Alberta Energy and Utilities Board (EUB) recently issued Decision 2004-060, which approves an application by Fortis Alberta Inc. (Fortis) to refund approximately $30 million to customers.

The funds will be refunded via interim riders, which will be in effect from August to December 2004.

For a typical residential customer, the rider will result in a decrease of about $2.50 per month, or $12.50 in total. For a typical farm customer, the rider will reduce monthly bills by $7.05, or $35.25 in total.

Interim riders are sometimes necessary to recover deficits or refund surpluses that arise once a regulated utility has some actual figures that can be compared to the forecasts used to initially file for rates with the EUB.

The EUB will subsequently establish a process to make a final determination on FortisÂ’ application.

The EUB regulates investor-owned natural gas, electric, water, and certain municipally owned utilities to ensure that customers receive safe and reliable service at just and reasonable rates, and ensures that the discovery, development, and delivery of Alberta's resources takes place in a manner that is fair, responsible, and in the public interest.