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Ontario regulators uphold disallowance of Hydro One pension recovery

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Ontario regulators uphold disallowance of Hydro One pension recovery

The Ontario Energy Board upheld an earlier decision to exclude from Hydro One Networks Inc.'s 2018-2022 distribution revenue requirement application a request for C$37 million related to pension funds.

According to the board's Dec. 19 decision, the original decision issued March 7 determined the Hydro One Inc. subsidiary had a surplus in excess of C$434 million in its pension plan and did not need to recover another C$37 million — C$17 million in operation, maintenance and administration, and C$20 million in capital — through rates.

The utility said in a Dec. 23 news release that it will determine an appropriate next step in light of the new decision. (Ontario Energy Board Docket No. EB-2019-0122)