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ARTICLE · 14 DECEMBER 2004

Electricity Restructuring Act Receives Royal Assent

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The Electricity Restructuring Act (the "ERA") received third reading and royal assent on December 9, 2004 to become law two years to the day after the Ernie Eves government froze the price of electricity with the highly controversial Electricity Pricing, Supply and Conservation Act, 2002.

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The Electricity Restructuring Act (the "ERA") received third reading and royal assent on December 9, 2004 to become law two years to the day after the Ernie Eves government froze the price of electricity with the highly controversial Electricity Pricing, Supply and Conservation Act, 2002.

Provisions of the ERA include:

  • The legal authority to create the Ontario Power Authority which will be the agency responsible for long-term planning and the counterparty for successful bidders in the Ministry of Energy’s requests for proposals;
  • The move of the Market Surveillance Panel from the IMO to the OEB;
  • Changing the IMO to the IESO;
  • Granting the OEB, who released a draft proposal on the regulated price plan December 7, 2004, the legal mandate to set prices for low-volume consumers.

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