TORONTO, ONTARIO--(CCNMatthews - Feb. 9, 2006) - Today, the Ontario Energy Board (OEB) released its final Decision regarding Enbridge Gas Distribution's (TSX:ENB) (NYSE:ENB) (EGD) Fiscal 2006 Rate Case. EGD filed its 2006 application on March 18, 2005. Today's Decision focused on approval of the issues not addressed through the Alternate Dispute Resolution ("ADR") phase of the 2006 proceeding.
EGD had applied for an increase in rates to ensure continued investment in the gas distribution infrastructure which will ensure continued reliability and integrity of the gas distribution infrastructure; support growth within its franchise area; manage the increased costs related to running the day-to-day business; enhance Demand Side Management programs to help reduce energy use; and address increased compliance and regulatory costs.
EGD is pleased with some aspects of the Decision particularly the OEB's recognition of the higher operating costs required to provide safe and reliable service to its customers. However EGD will be challenged to fully address mounting demands on its gas distribution infrastructure and new customer needs given the OEB's decision to limit capital expenditures in 2006.
The 2006 rates, effective January 1, 2006, will be implemented on April 1, 2006. EGD will continue to have one of the lowest operating and maintenance costs per customer among North American natural gas utilities, a measure of high productivity.
Further information about the Decision is available at: www.oeb.gov.on.ca or through the OEB Customer Service Centre at 416-314-2455 or toll-free at 1-877-632-2727.
Enbridge Gas Distribution has a more than 155-year history and is Canada's largest natural gas distribution company. Enbridge Gas Distribution is owned by Enbridge Inc., a Canadian-based leader in energy transportation and distribution. As a distributor of energy, Enbridge owns and operates distribution services in Ontario, which distributes natural gas to more than 1.8 million customers Ontario, New York State, New Brunswick and southwestern Quebec.
For more information please contact:
Enbridge Gas Distribution
Debbie Boukydis
Media
(416) 495-5682
Email: debbie.boukydis@enbridge.com
or
Enbridge Gas Distribution
Bob Rahn
Investment Community
(403) 231-7398
Email: bob.rahn@enbridge.com
Website: www.enbridge.com