O. Reg. 200/01: ALLOCATION OF REVENUES

 

ontario regulation 200/01

made under the

electricity act, 1998

Made:  June 13, 2001
Filed:  June 15, 2001
Printed in The Ontario Gazette: June 30, 2001

Amending O. Reg. 80/01

(Allocation of Revenues)

1. Subsection 3 (2) of Ontario Regulation 80/01 is amended by adding the following clause:

(b.1) forecasts of the costs to be incurred by Ontario Electricity Financial Corporation during the transition period under the power purchase agreements between it and generators other than Ontario Power Generation Inc.;

2. (1) Paragraph 5 of section 6 of the Regulation is revoked and the following substituted:

5. If Hydro One Networks Inc.’s forecasted gross margin from its retail business during the period from April 1, 1999 to September 30, 2001 falls below the 1998 level, Hydro One shall receive, out of the money collected by Ontario Power Generation Inc. under section 4, an amount sufficient to bring that gross margin up to the 1998 level.

(2) Paragraph 11 of section 6 of the Regulation is revoked and the following substituted:

11. Ontario Electricity Financial Corporation shall receive, from Ontario Power Generation Inc., the amount by which the forecast referred to in clause 3 (2) (a) exceeds the total of,

i. the amount that Ontario Power Generation Inc. would have received under paragraph 1 based on the forecast referred to in clause 3 (2) (b),

ii. the forecast referred to in clause 3 (2) (b.1),

iii. the costs incurred by Ontario Electricity Financial Corporation for managing the power purchase agreements between it and generators other than Ontario Power Generation Inc. during the period April 1, 1999 to December 31, 1999, and

iv. the total of the allocations under paragraphs 2 to 9,

and Ontario Electricity Financial Corporation shall apply that excess to its debts and liabilities and the costs associated with those debts and liabilities.

3. This Regulation shall be deemed to have come into force on April 1, 1999.