Class B Global Adjustment
Amendment to Ontario Regulation 429/04 directs the recovery of the 2020 deferred Class B amount from non-RPP Class B market participants and consumers. The deferred Class B amount will be recovered in 12 equal monthly amounts (MDCBA) throughout 2021 and the portion of which will be allocated to the every applicable Class B customer based on the total net volume of electricity withdrawn or the total volume of electricity distributed (as applicable).
*This information is not published on the IESO reports site.
The 1st, 2nd estimate and actual recovery rates for Class B customers are posted below in $/MWh.
|1st Estimate Class B
Recovery Rate - CBRR1st Est.
Recovery Rate - CBRR2nd Est.
|Actual Recovery Rate - CBRRActual ($/MWh)||5.01||7.09||5.88||6.55
|Monthly Deferred Class B Amount - MDCBA ($)
On May 9, 2019, legislative amendments to Ontario Rebate for Electricity Consumers Act, 2016 and the Ontario Fair Hydro Plan Act, 2017 (OFHPA) were passed to end Global Adjustment Refinancing and replace it with a new rebate, the Ontario Energy Rebate (OER), effective November 1, 2019. The OER is an expansion of the 8% provincial rebate and replaces the GA Modifier under the OFHPA that reduced the GA payable by eligible customers on electricity consumed.
|May 1, 2019 to October 31, 2019||-$41.49 per MWh||OEB Report: Regulated Price Plan Prices and the Global Adjustment Modifier for the Period May 1, 2019 to October 31, 2019|
|May 1, 2018 to April 30, 2019||-$44.38 per MWh||OEB Report: Regulated Price Plan Prices and the Global Adjustment Modifier for the Period May 1, 2018 to April 30, 2019|
|July 1, 2017 to April 30, 2018||-$32.90 per MWh||OEB Report: Regulated Price Plan Prices and the Global Adjustment Modifier for the Period July 1, 2017 to April 30, 2018|
On May 9, 2019, legislative amendments to ORECA and the Ontario Fair Hydro Plan Act, 2017 (OFHPA) were passed to end Global Adjustment Refinancing and replace it with a new rebate, the Ontario Energy Rebate (OER), effective November 1, 2019.
The following table presents the historical monthly amounts recorded in the OFHPA variance account, which includes amounts of deferred GA.
|Jan 2019||Feb 2019||Mar 2019||Apr 2019||May 2019||Jun
|Jul 2019||Aug 2019||Sep 2019||Oct 2019||Nov 2019||Dec 2019|
|Jan 2018||Feb 2018||Mar 2018||Apr 2018||May 2018||Jun
|Jul 2018||Aug 2018||Sep 2018||Oct 2018||Nov 2018||Dec 2018|
|Jul 2017||Aug 2017||Sep 2017||Oct 2017||Nov 2017||Dec 2017|
- Note all amounts starting in November 2019 reflect historical adjustments to OFHP claims.
- The April 2018 to November 2018 balance of –1,947.2 was financed through a provincial funding transaction. Going forward the Province will fund the balance amount monthly.
- An asset transfer of the March 2018 balance of -149 was made to the Fair Hydro Trust.
- An asset transfer of the December 2017 to February 2018 balance of -460 was made to the Fair Hydro Trust.
- An asset transfer of the July 2017 to November 2017 balance of -1,179 was made to the Fair Hydro Trust.
*Includes balance in the account for RPP prior to July 1, 2017. Note this number was updated on October 19, 2017.