Ontario Power Generation Inc. (OPG) is Ontario’s largest electricity generator. Under section 78.1 of the Ontario Energy Board Act, 1998, the OEB is authorized to determine the payment amounts to be made to OPG with respect to the output of certain of OPG’s generation facilities. These prescribed generation facilities are the nuclear generating stations operated by OPG (Pickering and Darlington), OPG’s baseload hydroelectric generation facilities (De Cew I, De Cew II, Sir Adam Beck I, Sir Adam Beck II, Sir Adam Beck pump storage generating station and R.H. Saunders), and 48 other hydroelectric generation facilities in the province.
Ontario Regulation 53/05, Payments Under Section 78.1 of the Act, (O.Reg. 53/05), sets out certain rules to be followed by the OEB in determining payment amounts for the prescribed generation facilities.
In accordance with the OEB’s approval of the settlement proposal in OPG’s 2022-2026 Payment Amounts proceeding, OPG is required to file certain reports with the OEB on a quarterly or annual basis that are to be posted publicly on the OEB’s website.
The sections below provide the reporting requirements and the reports received to date.
Requirement: The Management Discussion and Analysis and financial statements as filed with the Ontario Securities Commission within 60 days for the first three quarters, and within 120 days for December year-end statements.
Requirement: Nuclear unit capability factors for the regulated facilities within 60 days for the first three quarters and within 120 days for December year end as reported in OPG’s quarterly and annual Management Discussion and Analysis.
Requirement: Hydroelectric availability for the regulated facilities within 60 days for the first three quarters and within 120 days for December year end as reported in OPG’s quarterly and annual Management Discussion and Analysis.
Requirement: Hydroelectric surplus baseload generation – Annual reporting by June 30:
- all Surplus Baseload Generation claimed amounts including total MW on an hourly basis by each regulated facility, and the calculation of these amounts booked in the Hydroelectric Surplus Baseload Generation Variance Account;
- information in relation to usage of the Sir Adam Beck Pump Generating Station.
Requirement: Full Time Equivalent information by April 30 each year.
Requirement: Capital in-service additions and construction work in progress by April 30 each year.
Requirement: An analysis of the actual annual regulatory return, after tax on rate base, dollars for the regulated business as a whole and separately for its regulated nuclear and hydroelectric business segments, and a percentage for the regulated business based on OPG’s approved capital structure, and a comparison with the regulatory return included in the payment amounts by July 31 of each year. Additionally, as part of this annual reporting, a calculation equivalent to dividing the actual dollar regulatory return for each of the regulated nuclear and hydroelectric business segments by 45% of the corresponding rate base for each of these segments, where 45% is the equity thickness in the agreed upon capital structure for the regulated business.
Requirement: Annual report on expenses related to nuclear liability by June 30.
Requirement: Annual hydroelectric performance report by April 30.
Requirement: Annual nuclear performance report by April 30 (Annual nuclear performance report is re-filed with benchmark quartile results no later than November 30).
Requirement: Annual Darlington Refurbishment Report.
Requirement: Unaudited balances of deferral and variance accounts within 60 days after calendar quarter end.
Requirement: Pickering Closure Costs Deferral Account – Annual reporting by April 30 of each year on amounts recorded broken down by the major categories in O. Reg 53/05 Section 5.6 with no reporting of such amounts until cumulative balance exceeds $50M.