ontario regulation 566/05

made under the

Ontario Energy Board Act, 1998

Made: November 2, 2005
Filed: November 4, 2005
Printed in The Ontario Gazette: November 19, 2005


Amending O. Reg. 48/05

(Payments to the OPA, IESO and Consumers)

1. Section 4 of Ontario Regulation 48/05 is revoked and the following substituted:

Determination of Financial Corporation’s surplus ending March 31, 2005

4. The Chair or, if directed to do so by the Chair, the Chief Executive Officer of the Financial Corporation shall determine the amount of the Financial Corporation’s surplus for the period commencing April 1, 2004 and ending March 31, 2005 using the formula,

 (E + F) – (G + H) – I – J + K

where,

“E” is the total of all amounts received by the Financial Corporation in connection with the Act with respect to the period, other than amounts received in connection with section 78.2 of the Act,

“F” is the total of all amounts the person determining the amount of the surplus reasonably expects will be received by the Financial Corporation in connection with the Act with respect to the period, other than amounts the person reasonably expects will be received in connection with section 78.2 of the Act,

  “G” is the total of all amounts expended by the Financial Corporation in connection with the Act with respect to the period, other than amounts expended in connection with section 78.2 of the Act,

  “H” is the total of all amounts the person determining the amount of the surplus reasonably expects will be expended by the Financial Corporation in connection with the Act with respect to the period, other than amounts the person reasonably expects will be expended by the Financial Corporation in connection with section 78.2 of the Act,

“I” is the total amount received or reasonably expected to be received by the Financial Corporation under Ontario Regulation 436/02 (Payments re Various Electricity-Related Charges) made under the Act with respect to the period in relation to consumers other than low-volume consumers or designated consumers, as determined by the person determining the amount of the surplus, less the total amount expended or reasonably expected to be expended by the Financial Corporation under Ontario Regulation 436/02 (Payments re Various Electricity-Related Charges) made under the Act with respect to the period in relation to consumers other than low-volume consumers or designated consumers, as determined by the person determining the amount of the surplus,

“J” is the total of all amounts paid to the OPA under section 2, and

  “K” is the amount, as determined by the person determining the amount of the surplus, equal to the sum of,

(a) the amount of interest for the period commencing April 1, 2004 and ending October 31, 2005 that would be determined by applying an interest rate of 2.56 per cent per annum, compounded daily, to the net daily balance as of the end of each day in that period, where the net daily balance as of the end of a day in that period is calculated by subtracting from the total amount of “E” as of the end of that day the sum of,

(i) the total amount of “G” as of the end of that day,

(ii) the total amount of “I” as of the end of that day, and

(iii) the total amount of “J” as of the end of that day; and

(b) the amount of interest for the period commencing November 1, 2005 and ending November 30, 2005 that would be determined by applying an interest rate of 2.56 per cent per annum, compounded daily, to the amount by which the total amount of “E” as of the end of the day on October 31, 2005 exceeds the sum of,

(i) the total amount of “G” as of the end of that day,

(ii) the total amount of “I” as of the end of that day, and

(iii) the total amount of “J” as of the end of that day.

2. Subsection 11 (5) of the Regulation is revoked and the following substituted:

(5) If a licensed distributor makes the payment in the manner described in clause (4) (a), the licensed distributor shall,

(a) ensure that the amount of the credit is clearly and separately listed on the invoice and labelled as “Ontario Price Credit”; and

(b) unless otherwise authorized by the Minister, include on or with the invoice such message as may be specified by the Minister.

(5.1) If a licensed distributor makes the payment in the manner described in clause (4) (b), the licensed distributor shall, unless otherwise authorized by the Minister, provide the low-volume consumer or designated consumer with such message as may be specified by the Minister.

3. Subsection 12 (5) of the Regulation is revoked and the following substituted:

(5) If a participating retailer makes the payment in the manner described in clause (4) (a), the participating retailer shall,

(a) ensure that the amount of the credit is clearly and separately listed on the invoice and labelled as “Ontario Price Credit”; and

(b) unless otherwise authorized by the Minister, include on or with the invoice such message as may be specified by the Minister.

(5.1) If a participating retailer makes the payment in the manner described in clause (4) (b), the participating retailer shall, unless otherwise authorized by the Minister, provide the low-volume consumer or designated consumer with such message as may be specified by the Minister.