Ontario Energy Market: March in Review

Here's a glimpse at what happened in Ontario's energy sector during the month of March, 2019:
  • Hydro One has submitted a $5 billion 2020-2022 Transmission Rate Application to the Ontario Energy Board to strengthen the provincial network system, a plan which would increase energy rates for typical households by $0.77 next year.
  • Ontario Energy Board announced new "soft" consumer protection rules which will affect millions of gas and electricity customers, 325K of which will nevertheless be excluded due to the fact that they pay for their utilities through a "sub-metering" company;
  • The Province of Ontario moves to eliminate key energy-conservation programs and overhauling the provincial regulator as it seeks for different ways of addressing its longstanding problem with high energy rates;
  • With a view to reducing Ontario's high electricity rates, the Independent Electricity System Operator (IESO) introduces annual capacity auctions to acquire electricity resources at the lowest cost that can be called upon when and where they are needed to meet Ontario's electricity needs. 
  • In partnership with the Six Nations of the Grand River Development Corporation, the Ontario Power Generation (OPG) and Mississaugas of the Credit First Nation has completed its first-ever 44-megawatt solar facility at the former Nanticoke Generating Station site. 
  • The President of the Canadian Vehicle Manufacturer's Association (CVMA) announced that the CVMA welcomes the timely efforts by the Government of Ontario to address the province's longstanding problem of uncompetitive electricity rates.
  • On March 21, The Ontario Progressive Conservation government introduced new legislation, the "Fixing the Hydro Mess Act", which seeks to bring an end to the liberal government's hydro plan, uploads local electricity conservation programs to the corporation that manages the system and overhauls the energy sector watchdog. 
  • Kitchener-Wilmot Hydro receives the EDA LDC Performance Excellence Award, which recognizes outstanding performance excellence in occupational health and safety, operations, finance, conservation and contributions to the local community.
  • The Ontario Power Generation (OPG) reported, on March 7, 2019, net income attributable to the Shareholder of $1,195 million for 2018, compared to $860 in 2017.
  • Ontario Energy Board (OEB) issued a ruling on March 7, 2019, involving a dispute between the regulator and Hydro One over the plans for approximately $2.6 billion in future tax savings. 
  • A Southern Bruce project to distribute natural gas across Arran-Elderslie, Kincardine and Huron-Kinlosss has secured a pledge of up to $27.7 million from the Ontario government.