FFPC customers getting rebate

Fort Frances Power Corp. customers got a pleasant surprise when they opened their most recent bills—a rebate under the province’s interim price plan.
“The Ontario government basically passed legislation to provide, what it is known as on the bills, the Ontario Price Credit—a one-time rebate to customers for the period of April 1, 2004 to March 31, 2005—the period of time before the implementation of the regulated price plan” explained FFPC CEO and president Jim Kibiuk yesterday.
“They provided notice to all utilities in Ontario to provide applications for funds to be returned to the customers based on the kilowatt hours of consumption within each utility’s jurisdiction,” he added.
The value of the entire rebate fund in Ontario was $505 million, while Fort Frances’ share was $559,000.
“We definitely got our fair share for our customers in Fort Frances,” said Kibiuk, adding the average homeowner should see a rebate of approximately $60.
This rebate applies to residential and small business electricity consumers, schools, hospitals and others covered by the province’s interim price plan.
The credit is a result of lower-than-expected electricity prices due largely to the moderate weather during the summer of 2004.
As mentioned above, the amount of the customers’ credits are based on the amount they paid for their electricity consumption during the period from April 1, 2004 to March 31, 2005. The credit includes an allowance in lieu of interest.
If a customer bought electricity from anther distributor or retailer during the period spanning April 1, 2004 to March 31, 2005. They must contact that supplier by March 31 of this year to obtain a refund directly from that supplier.
It’s unknown whether electricity customers can expect any more such rebates in the near future.
“I know the Ontario Energy Board and the Ontario government are monitoring the commodity prices of electricity very closely. And they do publish reports from time to time with reference to the regulated price plan,” said Kibiuk. “It is viewed that it will be set annually as to how any positive or negative variances will be reflected in the prices to the customers.
“So [the current price plan] got us to March 31, 2005. What will happen in March 31, 2006? At this point, prices are tracking different, and we don’t know what will happen. People should enjoy the credit that was received, and we’ll have to wait and see what a happens in the future,” he noted.