PART II INDEPENDENT ELECTRICITY SYSTEM OPERATOR
Review of requirements and fees
25 (1) The IESO shall, at least 60 days before the beginning of each fiscal year, submit its proposed expenditure and revenue requirements for the fiscal year and the fees it proposes to charge during the fiscal year to the Board for review, but shall not do so until after the Minister approves the IESO’s proposed business plan for the fiscal year under section 24. 2014, c. 7, Sched. 7, s. 3 (1). Previous fees continued (2) Until the Board approves the proposed expenditure and revenue requirements for the fiscal year and the fees the IESO proposes to charge during the fiscal year, the fees approved for the previous fiscal year remain in effect unless the Board orders otherwise. 2014, c. 7, Sched. 7, s. 3 (1). Exception (3) Where the IESO is unable to make its submission under subsection (1) within the time required under that subsection, the IESO shall file its proposed expenditure and revenue requirements for the fiscal year and the fees it proposes to charge during the fiscal year to the Board for review as soon as possible after the Minister has approved its business plan under section 24. 2014, c. 7, Sched. 7, s. 3 (1). Board’s powers (4) The Board may approve the proposed expenditure and revenue requirements and the proposed fees or may refer them back to the IESO for further consideration with the Board’s recommendations. 2014, c. 7, Sched. 7, s. 3 (1). Same (5) In reviewing the IESO’s proposed expenditure and revenue requirements and proposed fees, the Board shall not take into consideration the remuneration and benefits of the chair and other members of the board of directors of the IESO. 2014, c. 7, Sched. 7, s. 3 (1). Changes in fees (6) The IESO shall not, without the approval of the Board, (a) establish, eliminate or change any fees it has established; or (b) eliminate or change any fees established by a predecessor that remain in effect. 2014, c. 7, Sched. 7, s. 3 (1). Hearing (7) The Board may hold a hearing before exercising its powers under this section, but is not required to do so. 2014, c. 7, Sched. 7, s. 3 (1). Transition, initial fiscal year (8) Despite subsection (1), the IESO shall submit its proposed expenditure and revenue requirements for its first full or partial fiscal year that occurs after subsection 3 (1) of Schedule 7 to the Building Opportunity and Securing Our Future Act (Budget Measures), 2014 comes into force and the fees it proposes to charge during that full or partial fiscal year to the Board for review not later than 30 days after the Minister approves the IESO’s proposed business plan for that full or partial fiscal year under subsection 24 (3), but shall not submit its proposed expenditure and revenue requirements until after the Minister approves the proposed business plan. 2014, c. 7, Sched. 7, s. 3 (1). Transition, fees (9) Until the Board approves the proposed expenditure and revenue requirements for the IESO’s first full or partial fiscal year that occurs after subsection 3 (1) of Schedule 7 to the Building Opportunity and Securing Our Future Act (Budget Measures), 2014 comes into force and the fees the IESO proposes to charge during that full or partial fiscal year, the IESO shall continue to charge the fees that were approved by the Board and that applied to its predecessors immediately before subsection 3 (1) of Schedule 7 to the Building Opportunity and Securing Our Future Act (Budget Measures), 2014 comes into force. 2014, c. 7, Sched. 7, s. 3 (1). Transition, orders (10) For greater certainty, the Board’s orders relating to the predecessors’ expenditure and revenue requirements and fees for their fiscal year that applied immediately before subsection 3 (1) of Schedule 7 to the Building Opportunity and Securing Our Future Act (Budget Measures), 2014 comes into force continue to be in effect until the Board approves the first expenditure and revenue requirement and fees for the IESO. 2014, c. 7, Sched. 7, s. 3 (1). Section Amendments with date in force (d/m/y) 2004, c. 23, Sched. A, s. 28 - 01/01/2005 2014, c. 7, Sched. 7, s. 3 (1) - 01/01/2015