The Independent Electricity System Operator in its capacity as the Smart Metering Entity, has applied to the Ontario Energy Board for approval of the following:
- A Smart Metering Charge of $0.43 per meter per month, for residential and general service less than 50kW customers, to be charged to each electricity distributor for a 5-year period, beginning January 1, 2023 to December 31, 2027
- A revenue requirement of $137.5 million for the period 2023 to 2027
- To establish the Operating Reserve Balancing Account and to discontinue the Balancing Variance Account and its associated sub-accounts, beginning January 1, 2023
- An operating reserve of up to $2.5 million in the Operating Reserve Balancing Account
- To continue the practice of sharing a draft of the annual Cost and Variance Report by April 30 of each year with parties for review and filing a final version of the Report with the Ontario Energy Board by May 31 of each year
- To dispose of any surplus balance in the Operating Reserve Balancing Account based on certain conditions.
The current OEB-approved Smart Metering Charge is $0.57 per meter per month. The Smart Metering Charge covers the costs of developing and operating the Meter Data Management/Repository, which is used to collect, manage, store and retrieve smart metering data.
In a separate Decision and Order dated April 14, 2022, the Ontario Energy Board approved the Smart Metering Entity’s request to charge, on an interim basis, a Smart Metering Charge of $0.43 per meter per month, for the 9-month period beginning April 1, 2022 to December 31, 2022.