Ontario hydro hike sought
The rate increase would boil down to a 3 per cent hike for most homeowners, however, because the nuclear and hydroelectric plants account for just 60 per cent of OPGÂ’s electricity output into the provincial grid.
The utility announced that it is seeking permission for the increase, its first since 2005, from the Ontario Energy Board for the period from April 1, 2008 to Dec. 31, 2009.
The board will convene hearings to debate the application, which Ontario Power Generation will argue is necessary to help the Crown-owned company maintain and expands its nuclear and hydroelectric power generating facilities in the coming years without going deep into debt.
Sources said the rate increase would amount to about 4 per cent on the bills for major hydro users, who have long complained OntarioÂ’s electricity prices are too high and risk making the province a less competitive home for industry.
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Peterborough Distribution sold to Hydro One for $105 million.
PETERBOROUGH - The City of Peterborough said Wednesday it has agreed to sell Peterborough Distribution Inc. to Hydro One for $105 million.
The deal requires the approval of the Ontario Energy Board.
According to the city, the deal includes a one per cent distribution rate reduction and a five-year freeze in distribution rates for customers, plus:
- A second five-year period with distribution rate increases limited to inflation and an earnings sharing mechanism to offset rates in year 11 and onward
- Protections for PDI employees with employees receiving employment offers to move to Hydro One
- A sale price of $105 million
- An agreement to develop a regional…
