Electricity – Rates
ENMAX Power Corporation (“ENMAX”) submitted for approval its third-generation performance-based regulation (“PBR3”) plan compliance filing and 2024 PBR annual rate adjustment application PBR, as directed by the AUC in Decision 27388-D01-2023.
The AUC approved ENMAX’s 2024 distribution rates and 2024 distribution tariff terms and conditions on an interim basis, effective January 1, 2024. The interim rates will be in effect until the AUC makes a final decision on these rates.
In Decision 27388-D01-2023, the AUC established the parameters of the third-generation performance-based regulation (“PBR3”) plan for the four electric and two natural gas distribution utilities, including ENMAX. In that decision, ENMAX was directed to file a compliance filing to set PBR rates for 2024 in accordance with the parameters of the PBR3 plan.
Normally, a PBR rate adjustment application is filed by September 10 of each year to allow for a sufficient review process to set rates effective January 1 of the following year. However, given the need to set out PBR3 parameters in 2023 and the timing of the issuance of Decision 27388-D01-2023, the application from ENMAX was received well past the usual date for annual rate filings. The AUC decided to approve interim rates because final PBR rates will not be in place before January 1, 2024, and interim rates promote short-term rate stability. ENMAX’s rates will be trued up to reflect the final 2024 PBR rates once they are approved by the AUC.