The Ontario Energy Board's Market Surveillance Panel released it's bi-annual Monitoring Report on the IESO-Administered Electricity Markets, for the period from May 2011 - October 2011. Of interest to many will be the success in dropping prices for Ontario's largest industrial customers. Notably, the full cost are still borne by consumers - they are just transferred to other consumers.
This is the first Summer Report where all months of the reporting period were subject to the new Class A and Class B Global Adjustment (GA) allocation. From May to October 2011, the effective GA cost averaged $24.93/MWh for Class A customers and $39.62/MWh for Class B customers. Accordingly the effective total wholesale price (HOEP, plus GA, plus uplift charges) for electricity in the summer of 2011 was $57.34/MWh for Class A customers and $72.07/MWh for Class B customers, compared to $65.61/MWh in the summer of 2010 for all customers.
Over the reporting period Class A customers consumed about 16 percent of total electricity in Ontario and paid 11 percent of the total GA charges. Class B customers consumed about 84 percent of the power and paid 89 percent of the total GA charges.