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Regulation of Ontario’s Energy Sector

Explore how the Ontario Energy Board aims to improve regulatory processes in the energy sector, focusing on efficiency, transparency, and stakeholder engagement for a financially viable industry. Learn about market expectations, OEB's vision, and the interface between gas and electricity.

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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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