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Regulation of Ontario’s Energy Sector

Regulation of Ontario’s Energy Sector. Toronto CFA Society Luncheon Presented by Howard Wetston, Q.C Chair Ontario Energy Board March 22, 2005. Overview. What Markets Expect of the Regulator OEB Vision Improving Regulation – Business Plan Improving Regulatory Processes

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Regulation of Ontario’s Energy Sector

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  1. Regulation of Ontario’s Energy Sector Toronto CFA Society Luncheon Presented by Howard Wetston, Q.C Chair Ontario Energy Board March 22, 2005

  2. Overview • What Markets Expect of the Regulator • OEB Vision • Improving Regulation – Business Plan • Improving Regulatory Processes • Goal Oriented Regulation • Electricity • Natural Gas • Interface between Gas and Electricity

  3. What Markets Expect Of The Regulator • Consistency and predictability • Efficiency and timeliness • Adequacy of returns

  4. OEB Vision • The Board envisions a healthy and efficient energy sector with informed consumers served by responsive regulatory processes that are effective, fair and transparent

  5. Improving Regulation – Business Plan • Building resources and expertise • Using policy instruments within OEB control • Provide sound regulation balancing consumer interests with need for a financially viable sector • Improving regulatory processes to ensure they are effective, fair and transparent

  6. Improving Regulatory Processes • Open and public • Timeliness is a performance measure • Greater clarity and predictability • Streamlining • Reduce regulatory risk • OEB is “…… demonstrating an improvement in the number and timeliness of regulatory determinations…” • (Standard & Poor’s Report, February 2005)

  7. Goal Oriented Regulation • Electricity sector is different than Gas sector • Policy advice not advocacy • Regulatory policy • Problems can be tackled through use of regulation

  8. Goal Oriented Regulation - Electricity • Full rate setting regulatory process • review of revenue needs and cost allocation analysis • Clean up backlog of issues • Distribution rates plan • multi-year incentive rates beginning in 2007 • alternatives to current rate design

  9. Goal Oriented Regulation – Natural Gas • Natural Gas Forum issues • Regulation options for gas storage • Rate-making models to encourage efficiency • Review role of utilities in gas supply and transportation • Infrastructure for gas-fired power generation

  10. Interface between Gas and Electricity • Gas and Electricity are interdependent • Gas-Fired Generation • Gas-fired plants increase deliverability requirements • More gas infrastructure and flexibility needed • Ontario Power Authority (OPA) Generation • OEB to review integrated power system plan and procurement process • OEB role in contracting

  11. Conclusion • OEB providing • Road Map • Framework • Timeline • OEB engaging stakeholders in its work For more information visit our website www.oeb.gov.on.ca

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