The OEB is pleased to release its 2023-2024 Annual Report

A MESSAGE FROM THE
CHIEF EXECUTIVE OFFICER
During the 2023 – 2024 fiscal year, Ontario’s energy sector continued its transformation, driven by consumer
demand for reliable and affordable sources of energy. Advances in technology, the need for more affordable
housing, strong economic growth and changing consumer preferences resulted in an increased reliance on energy.
In this environment, our role as the regulator of Ontario’s electricity and natural gas sectors is more critical than ever,
and inaction is not an option.
Informed by Minister Todd Smith’s Letters of Direction (October 2022 and November 2023), our work over
the past fiscal year was shaped by the government’s plan, titled Powering Ontario’s Growth, the Independent
Electricity Operator’s Pathways to Decarbonization report, the Electrification and Energy Transition Panel’s report
and the complex and evolving stakeholder environment in which we operate.
Efficiently and transparently adjudicating the applications of the entities we regulate remains at our core. Of the
288 decisions issued in 2023 – 2024, 90% were issued more than 14 days in advance of our established
decision metric date. We also returned to in-person adjudicative events and enabled hybrid hearings.
To improve efficiency and reduce regulatory burden, we accepted most recommendations from the Very Small
Utilities Working Group and launched a consultation to review requirements and processes for electricity
distributor consolidations. A final version of a revised Handbook to Electricity Distributor and Transmitter
Consolidations, informed by OEB staff recommendations, is expected in mid-2024. We also continued to move
forward with a streamlined licence renewal process for electricity distributors and introduced it for
electricity transmitters.
Our Red Tape Reduction initiative continued to identify regulatory requirements that no longer serve their
intended purpose, reducing burden by approximately 2.1% this year. Added to the 2.5% reduction last year,
we are well positioned to achieve our 5% target by March 2026.
We also initiated a process to issue preliminary Uniform Transmission Rates for electricity distributors to use
in upcoming rate applications. This move serves to minimize variances that were causing cashflow issues and interest
charges to customers, and was recognized as assisting the regulatory lag by credit ratings agency S&P Global Ratings.
The OEB prioritized public protection by fostering a culture of compliance and ensuring fair and balanced processes.
We completed 35 compliance inspections related to enforceable provisions. Additionally, we responded to
more than 485 industry relations enquiries, answered more than 9,000 customer enquiries and closed
40-plus compliance reviews.
With affordability being a concern for many, the OEB added measures to protect the public by reviewing
and enhancing the Low-income Energy Assistance Program. Similarly, we began promotion of updated
income eligibility requirements for the Ontario Electricity Support Program and continued to support
implementation of Green Button and the Ultra-Low Overnight price plan to support customer choice and
control over their energy bills.
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ONTARIO ENERGY BOARD ANNUAL REPORT 2023 – 2024
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We advanced our efforts to ensure meaningful participation by Indigenous peoples in OEB proceedings. Specifically,
we solicited comments on the Indigenous consultation provisions in our Environmental Guidelines for the
Location, Construction and Operation of Hydrocarbon Projects and Facilities in Ontario, as well as on the
participation by Indigenous communities and organizations in OEB hearings. We are considering actions to address
those comments and plan to report on this work later in 2024 – 2025.
The OEB progressed our Electric Vehicle (EV) Integration project by releasing the Delivery Rates Report and
issuing guidance to help distributors plan for anticipated increases to EV charging loads. By publishing the
EV Charging Connections Procedure, we standardized connection processes benefitting both distributors
and changing companies.
We also selected six projects to share funding of $1.5 million as part of our Innovation Sandbox Challenge.
The initiative was a prime example of how we harness innovative thinking to address energy transition challenges.
Our DER Connections Review made great strides in streamlining the process to connect DERs. New rules enable
electricity distributors to offer flexible hosting capacity arrangements, which was a major step toward
facilitating greater DER adoption.
Finally, we were recognized as one of Greater Toronto’s Top Employers for a second consecutive year and
received Electricity Human Resources Canada’s Award of Excellence for being a Workplace Diversity,
Equity and Inclusion Champion.
Our 2023 – 2024 fiscal year was characterized by purposeful and co-operative work and a commitment to those we
serve, the people of Ontario. My sincere thanks to all who have worked so hard across the sector to enable Ontario’s
energy advantage.
Susanna Zagar
Chief Executive Officer