May 1, 2002 marked a monumental day in the history of hydro across all of Ontario. It was the day that the market for electricity in the province was opened to competition. Prior to this date, what most residents did not know, was that the former Ontario Hydro had become outdated, inefficient and technically challenged. This old monopoly was broken up into a number of companies leaving a $19 billion debt that will be paid by the residents over the next 10 to 15 years.

Today, in the changed business environment we are considered a "Local Distribution Company", and regulated by the Ontario Energy Board. The regulations state that Northern Ontario Wires must continue to procure energy for those customers that decide not to sign a contract with a retailer and is obliged to transfer the cost of power to the customer without profit or mark up.

On April 1, 2004, Bill 4 - the Ontario Energy Board Amendment Act came into effect. This act implemented the two-tiered pricing, designed to reward energy conservation. This Bill also allowed Local Distribution Companies to recover some costs spent on preparing for market opening.

For more regulatory information, please visit the Ontario Energy Board's website.

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