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O. Reg. 48/05: INTERIM PAYMENTS TO THE OPA
under Ontario Energy Board Act, 1998, S.O. 1998, c. 15, Sched. B
Skip to contentOntario Energy Board Act, 1998
Loi de 1998 sur la Commission de l’énergie de l’Ontario
ONTARIO REGULATION 48/05
No Amendments
INTERIM PAYMENTS TO THE OPA
Historical version for the period February 18, 2005 to October 18, 2005.
This Regulation is made in English only.
Definitions
1. In this Regulation,
“surplus” means, in respect of the Financial Corporation, the amount by which the total amount received by the Financial Corporation in connection with the Act with respect to a period exceeds the sum of,
(a) the total amount expended by the Financial Corporation in connection with the Act with respect to the same period, and
(b) the total of such amounts as the person determining the amount of the surplus under section 3 considers reasonable relating to future expenditures with respect to the same period that the Financial Corporation is expected to make in connection with the Act. O. Reg. 48/05, s. 1.
Interim payments to the OPA
2. (1) In respect of each month in the first quarter of 2005, the Financial Corporation shall pay to the OPA such amount, if any, as may be required by the OPA to meet its obligations to make payments under section 25.33 of the Electricity Act, 1998 for the month. O. Reg. 48/05, s. 2 (1).
(2) The Financial Corporation may determine the method by which it pays an amount to the OPA under subsection (1) and the time or times within which the payment or payments are made. O. Reg. 48/05, s. 2 (2).
(3) The total amount payable by the Financial Corporation under subsection (1) in respect of the first quarter of 2005 shall not exceed the Financial Corporation’s surplus, if any, for the period commencing April 1, 2004 and ending December 31, 2004. O. Reg. 48/05, s. 2 (3).
Determination of amount of surplus
3. The Chief Executive Officer or, if directed to do so by the Chief Executive Officer, the Chief Operating Officer of the Financial Corporation shall determine the amount of the Financial Corporation’s surplus for the period commencing April 1, 2004 and ending December 31, 2004 for the purposes of section 2. O. Reg. 48/05, s. 3.