The Board is required under section 78 of the Ontario Energy Board Act, 1998 (the “Act”) to periodically review the electricity distributors’ variance and deferral accounts (the “Accounts”). Specifically, the Act requires that the Board periodically makes orders determining whether and how amounts recorded in the Accounts should be reflected in rates. The Account associated with the commodity of electricity (the “Commodity Account”) is to be reviewed quarterly and the remaining Accounts are to be reviewed annually.
The Board issued guidelines on September 28, 2005, outlining the review process that the Board would follow. On February 19, 2008, the Board issued a letter announcing an initiative to re-examine the review and disposition process of the Commodity Account, and the possibility of extending this initiative to Accounts similar in nature.
|Date||Issue / Document|
|July 31, 2009||
The Board has issued its Report on Electricity Distributors’ Deferral and Variance Account Review Initiative. The Board Report sets out the Board’s policy framework for the review and disposition of deferral and variance accounts for electricity distributors.
|June 1, 2009||
Stakeholder comments on the Staff Discussion Paper:
|April 17, 2009||
The Board has issued an Order pertaining to the review of balances in the RSVApower account and the RSVApower sub-account Global Adjustment (Account 1588) for all the LDCs listed in Appendix A for the period ending December 31, 2008. The Board finds that there is no requirement for disposition at this time. This Order does not limit the decision making authority of the Board in the review and potential disposition of any specific LDCs Account 1588 that may currently be under review by the Board or where disposition of the balance of Account 1588 has been ordered.
|April 1, 2009||
The OEB issued a Staff Discussion Paper on an Electricity Distributors’ Deferral and Variance Account Review Initiative. Also posted is an example of a continuity schedule, as referenced in section 10.1 c) i) of the Staff Discussion Paper.
|February 19, 2008||
The Board has issued a letter to notify electricity distributors and other interested parties that the Board intends to launch an initiative for the review and disposition of Account 1588 and may include other deferral accounts that are similar in nature.
|September 28, 2005||
The Ontario Energy Board today approved Guidelines for reviewing deferral and variance account balances of all electricity LDCs after a period of consultation. These Guidelines establish a review process pursuant to Bill 23, the Ontario Energy Board Consumer Protection and Governance Act, 2003. The process consists of quarterly reviews for commodity accounts and annual reviews for non-commodity accounts.
|August 8, 2005||
The Board has developed draft Guidelines to explain the Board’s proposed process for its review of deferral and variance accounts and to outline the procedures electricity LDCs are required to follow to enable the Board to make an order.