Posted February 11th, 2025
On August 15, 2024, Grimsby Power filed an IRM application with the Ontario Energy Board (OEB) to change rates effective January 1, 2025.
The IRM application is a mechanistic adjustment to distribution rates based on inflation and the OEB’s assessment of the distributor’s efficiency. The adjustment components are set out in the table below. Inserting these components into a formula result in a 3.60% increase to Grimsby Power’s distribution rates.
|
Components of IRM Adjustment |
||
|
Inflation Factor |
|
3.6% |
|
X-Factor |
Less: Productivity Factor |
0.00% |
|
Less: Stretch Factor Group 1 |
0.00% |
|
|
Price Cap Adjustment |
|
3.6% |
The OEB issued its decision on the application December 12, 2024. Based on the Decision, a residential customer consuming 750 kWh will have a monthly bill decrease of approximately $2.43 after taxes and the Ontario Electricity Rebate, effective January 1, 2025. The table below provides total bill impacts for a sample of Grimsby Power customers.
For more information, visit Grimsby Power’s website at www.grimsbypower.com/regulatory/applications.
For more information about the 2023 supply mix please click here.
READ ALL ARTICLESFor more information about the 2023 supply mix please click here.
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If you are digging a hole deeper than 30 cm (12 inches) you require a locate to ensure there are no underground power lines. Accidently digging into one of these lines can be very dangerous and expensive. To request a locate, please contact Ontario One Call at 1-800-400-2255. Please call at least one week before you plan to dig.