Hydro One’s Joint Rate Application approved by the Ontario Energy Board
Torys is acting as counsel to Hydro One with a team led by Charles Keizer and that includes Jonathan Myers, Tim Pavlov and Henry Ren (energy regulatory), Arlen Sternberg, Winston Gee and Taylor Campbell (litigation and administrative law).
On November 29, 2022, the Ontario Energy Board (“OEB”) approved the comprehensive settlement proposal for Hydro One Networks Inc.’s (“Hydro One”) Joint Rate Application for electricity transmission and distribution rates for the 2023 to 2027 period. The settlement proposal was negotiated with representatives of 18 intervenor parties. The OEB considered the Joint Rate Application, with a combined proposed revenue requirement of approximately C$20 billion and a proposed investment plan of about C$13 billion over the rate period, to be the largest and most complicated rate case to have come before it.
The approved rates reflect Hydro One’s 2023-2027 investment plan for the company’s transmission and distribution systems, which have been informed by customer feedback and which set out the company’s plans to reduce the impacts of power outages, renew and replace critical transmission and distribution infrastructure, enable economic growth and prepare for climate change.
Further information can be found on the OEB’s website and on PR Newswire’s website.