Electricity
In the electricity sector, the Board sets transmission and distribution rates, and approves the IESO's budget and fees. The Board also sets the regulated price of electricity for residential and small business consumers on the Regulated Price Plan. Consumers who have signed contracts with an electricity retailer will pay the price set out in their contract. The Board licenses all electricity retailers who sell electricity to residential and small commercial consumers.
Board approval is required prior for:
- Construction of electricity transmission lines longer than two kilometers;
- Amalgamations between an electricity distributor and another company;
- Acquisition of significant shareholdings of an electricity transmission or distribution company — in excess of 20 per cent of the voting securities;
- Disposal of electricity transmission and distribution assets;
- Acquisition of electricity transmission or distribution assets by an electricity generation company or affiliate; and
- Acquisition of electricity generation facilities by an electricity transmission or distribution company or affiliate.
The Board also monitors markets in the electricity sector and reports to the Minister of Energy and Infrastructure on the efficiency, fairness, transparency and competitiveness of the markets, and reports any abuse or potential abuse of market power. The Board may also be asked to review the IESO market rules and consider appeals of IESO orders.
Read more about this topic: Ontario Energy Board
Famous quotes containing the word electricity:
“There are two great unknown forces to-day, electricity and woman, but men can reckon much better on electricity than they can on woman.”
—Josephine K. Henry, U.S. suffragist. As quoted in History of Woman Suffrage, vol. 4, ch. 15, by Susan B. Anthony and Ida Husted Harper (1902)
“Prudence and justice tell me that in electricity and steam there is more love for man than in chastity and abstinence from meat.”
—Anton Pavlovich Chekhov (1860–1904)