O. Reg. 57/17: PAYMENTS UNDER SECTION 78.1 OF THE ACT

 

ontario regulation 57/17

made under the

Ontario Energy Board Act, 1998

Made: March 1, 2017
Filed: March 2, 2017
Published on e-Laws: March 3, 2017
Printed in The Ontario Gazette: March 18, 2017

Amending O. Reg. 53/05

(PAYMENTS UNDER SECTION 78.1 OF THE ACT)

1. Subsection 0.1 (1) of Ontario Regulation 53/05 is amended by adding the following definitions:

“calculation period” means each period for which the Board determines the approved revenue requirements under subparagraph 12 ii of subsection 6 (2) together with the year immediately prior to that period;

“hydroelectric facilities” means the hydroelectric generation facilities prescribed in paragraphs 1, 2 and 6 of section 2;

“OPG weighted average payment amount” for a year means the total production-weighted average payment amount that is used in the determination of the payments made under section 78.1 of the Act with respect to the generation facilities prescribed in section 2 of this Regulation, calculated according to the formula:

(((NPA + NPR) × NPF) + (HPA + HPR) × HPF) / (NPF + HPF)

where,

NPA is the Board-approved payment amount for the year in respect of the nuclear facilities,

NPR is the Board-approved payment amount rider for the year in respect of the recovery of balances recorded in the deferral accounts and variance accounts established for the nuclear facilities, excluding the deferral account established under subsection 5.5 (1),

NPF is the Board-approved production forecast for the nuclear facilities for the year,

HPA is the Board-approved payment amount for the year, or the expected payment amount resulting from a Board-approved rate-setting formula, as applicable, in respect of the hydroelectric facilities,

HPR is the Board-approved payment amount rider for the year in respect of the recovery of balances recorded in the deferral accounts and variance accounts established for the hydroelectric facilities, and

HPF is the Board-approved production forecast for the hydroelectric facilities for the year.

2. Subparagraph 12 i of subsection 6 (2) of the Regulation is revoked and the following substituted:

i. the Board shall determine the portion of the Board-approved revenue requirement for the nuclear facilities for each year that is to be recorded in the deferral account established under subsection 5.5 (1), with a view to making more stable the year-over-year changes in the OPG weighted average payment amount over each calculation period,

Commencement

3. This Regulation comes into force on the day it is filed.