Zurich Citizens News, 1974-10-03, Page 12THURSDAY, OCTOBER 3,
1974 ZURICH CITIZENS NEWS
PAGE 13
Hydr r,!iie increase
Ontario Hydro this week
announced rate increases for
electricity for 1975. Effective
January 1, the average whole-
sale rate to municipal utility
systems will go up by 12,.4
percent. Rates to customers
of Hydros rural system will be
increased by 11.4 percent and
large industrial customers serv-
ed directly by Hydro will pay
an average of 15.2 per cern.
In a letter to Darcy McKeougl
Ontario Ministry of Energy,
Hydro Chairman George Gath-
ercole said that Hydro's Board
of Directors had accepted in
principle the recommendations
of the Ontario Energy Board on
the key factors affecting 1975
rates with one significant exc-
eption --the recovery of deficits
from the industrial and rural
systems.
In April Hydro proposed an
increase of 15.3 per cent in
wholesale rates to municipalit-
ies and a 16 per cent increase to
direct industrial customers. In
its report to the Minister of
Energy in September following
a public review of the Hydro
submission, the OEB proposed
a rate of 12.7 per cent for
municipalities and 14.5 to the
direct industrials. The decision
to recover deficits is the reason
the industrial rate is slightly
higher (0.7 per cent) than prop-
osed by the OEB. The 12.4 per
cern increase in wholesale
rates is a precise calculation
of the effects of the. OEB's
recommendations..
The increases announced
today represent a decrease in
revenue to Hydro of approxim-
ately $22 million, compared
with the original rate proposal.
"In accepting generally the
OEB recommendations on rates,
the letter siad, "the Hydro
Board does so with some concerr
because they will result in hea-
vier borrowings at a time when
interest rates are rising."
The major departure from
the OEB's recommendations is
the recovery of deficits from
rural and direct industrial cust-
omers. Noting that a cardinal
principle of Hydro's financial
policy is that there be no
cross subsidization among cust-
omer categories, 4the Hydro
Board said it "is convinced
that it should make a start on
recovering the deficits in 1975
so that equity is maintained
between the municipal, rural
and direct industrial systems."
"Although rural retail rates
were not within the scope of
the OEB's deliberations, Ontario
Hydro has factored the effect
of the OEB proposals into the
wholesale rural operating
account, " Hydro's letter said,
in arriving at the 11.4 percent
increase.
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The Hydro Board said full
attention would be given to
the OEB's opinion that greater
reliance should be placed on
fossil fuel stations compared
with nuclear and that it would
review "as a matter of urgency"
projections of supply and dem-
and for heavy water.
Priority will also be given to
a review of the OEB's suggest -
ion that planned power reserves
be reduced by 5 per cent. The
Hydro Board said eight studies
have been authorized in areas
on which the OEB commented
and that an analysis of other
suggestions and canments cont-
ained in the OEB report will be
carried out as quickly as pass -
"The Hydro Board recognizes
that rate increases of any size
are most regrettable. At the
same time, Hydro has been
faced with an unprecedented
rise in interest rates, wages
and salaries, fuel costs, and
the cost of all goods and serv-
ices. If Ontario Hydro is to
remain financially strong
increases in the cost of elect-
neity are absolutely essential, "
al
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