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ARTICLE · 18 JANUARY 2012

Energy @ Gowlings - January 16, 2012 - Volume 10, Number 1

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On December 5, 2011, the Auditor-General of Ontario released his annual report.

CanadaEnergy and Natural Resources
Paul Harricks
Paul Harricks
Sean Conway
Sean Conway
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Highlights of the 2011 Ontario Auditor-General's Report

On December 5, 2011, the Auditor-General of Ontario released his annual report.  Approximately 60 pages are devoted to three aspects of Ontario's Electricity Sector:

  1. The Regulatory Oversight of the Ontario Energy Board
  2. Ontario's Renewable Energy Initiatives
  3. The Stranded Debt

While the report as a whole has generated considerable attention, and is worth reading in its entirety, the following is a brief summary of some of the highlights.

1. The Regulatory Oversight of the Ontario Energy Board

The Auditor makes plain that the regulatory oversight of the Ontario Energy Board (OEB) is very limited and declining in its scope.   The OEB regulates less and less of Ontario's electricity supply, has little say in the various inputs to the Global Adjustment, has no role in overseeing the Debt Retirement Charge (discussed below) and has no oversight of Ontario's Long Term Energy Plan.  To quote the Report:

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