Generic Proceeding – Cost of Capital and Other Matters


The Ontario Energy Board (OEB) is commencing a hearing on its own motion to consider the methodology for determining the values of the cost of capital parameters and deemed capital structure to be used to set rates for electricity transmitters, electricity distributors, natural gas utilities, and Ontario Power Generation Inc. The methodology for determining the OEB’s prescribed interest rates and matters related to the OEB’s Cloud Computing Deferral Account will also be considered, including what type of interest rate, if any, should apply to this deferral account.

The outcome of the hearing will affect the rates that customers – including residential and business customers – pay for electricity and gas service.

The OEB annually publishes its approved cost of capital parameters on its website. The OEB last reviewed its cost of capital methodology in 2009 through its Report of the Board on the Cost of Capital for Ontario’s Regulated Utilities, December 11, 2009 (EB-2009-0084). An OEB staff report (Staff Report) regarding a review of the cost of capital policy was published on January 14, 2016 (EB-2009-0084). OEB staff concluded in the Staff Report that the methodology adopted in late 2009 had worked as intended.

When the OEB reviews a cost-based rates application, many costs and inputs are included in that review. The cost of capital is only one of those costs. In any given year, about 10-20% of Ontario’s utilities apply for such a cost-based review.

This application will be heard using the performance standard in the Generic Hearings Protocol

View the complete record for EB-2024-0063 through the OEB Advanced Regulatory Document Search (RDS).

Application Hearing

Procedural Orders
Expert Evidence


There are three ways to participate in the OEB hearing process: as an Intervenor, submitting a Letter of Comment or to Follow a Proceeding.

This table illustrates the different levels of participation. Find out more about participating in an OEB hearing, including becoming an intervenor.

Participation ActivitiesIntervenorLetter of CommentFollow a Proceeding
Receive OEB-issued documents by email
Submit a Letter of Comment
Listen to live broadcast of the oral hearing
Participate in oral hearing
Present Evidence
Respond to questions about evidence
Ask other parties to the proceeding questions
Provide argument

Submit a letter of comment

You can submit a letter of comment that will be considered by the panel deciding the application. Unless the notice states otherwise, your letter of comment will be accepted until the record of the proceeding is closed (which usually occurs with the filing of the applicant’s final reply argument). However, you are encouraged to submit your letter as early in the process as you can. Depending on timing of receipt of letters of comment, the applicant will typically provide a respond to the issues raised in those letters. Your letter will be provided directly to the panel of Commissioners who will be deciding whether the application is approved. The panel will consider your comments in reaching their decision. The panel will only be able to consider comments which relate to issues which are within the authority of the OEB and relevant to the issues being considered by the panel.

More about commenting and privacy
All letters of comment sent to the OEB are placed on the public record. This means the letters will be placed on our website. Before the letter of comment is placed on the public record, personal contact information contained in the address, phone number, and email address fields of this form is removed. The individual's name and the content of the letter will become part of the public record.

If you would like a response from the applicant, please send a copy of your letter directly to the applicant, including your personal contact information. The OEB removes your personal contact information from your letter for privacy reasons before it is posted to our website.

Add Your Letter of Comment

All information provided in this field will be made publicly available and placed on the OEB website. Please do not include any personal contact information in this section.
Upload an attachment only if you need to submit additional information relating to your comment. Only PDF and Word files will be accepted. All information provided in the document you attach will be made publicly available and placed on the OEB website. Please do not include any personal contact information in your attached document.
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Or mail the below address with the reference number EB-2024-0063

Ontario Energy Board
P.O. Box 2319
2300 Yonge Street, 27th Floor
Toronto ON M4P 1E4
Attn: Registrar