Payments re retailers using retailer-consolidated billing, embedded distributor
11. (1) In this section, “N” is the amount, calculated at the applicable statutory prices, that is payable for electricity under a designated contract by a consumer in an embedded distributor’s service area to a participating retailer who is using retailer-consolidated billing, for the volume of electricity supplied under the contract, “P” is the contract price for the same electricity. O. Reg. 435/02, s. 11 (1); O. Reg. 43/04, s. 11. (2) If there is a difference between a participating retailer’s “N” in respect of a designated contract and “P”, (a) the retailer shall give the embedded distributor such information as the IMO may specify with respect to the payments required by this section and shall do so before the expiry of the period specified by the embedded distributor; (b) the embedded distributor shall give its host distributor such information as the IMO may specify with respect to those payments and shall do so before the expiry of the period specified by the host distributor; (c) the host distributor shall give the IMO such information as it may specify with respect to those payments, in the form specified by the IMO and before the expiry of the period specified by the IMO; (d) the IMO shall give the Financial Corporation such information as it may specify with respect to those payments, in the form specified by the Financial Corporation and before the expiry of the period specified by the Financial Corporation. O. Reg. 435/02, s. 11 (2). (3) If a participating retailer’s “N” in respect of a designated contract is greater than “P”, an amount equal to the difference between “N” and “P” is payable as follows: 1. The retailer shall pay that amount to the embedded distributor before the expiry of the period specified by the Board. 2. The embedded distributor shall pay that amount to its host distributor before the expiry of the period specified by the Board. 3. The host distributor shall pay that amount to the IMO before the expiry of the period specified by the IMO. 4. The IMO shall pay that amount to the Financial Corporation after receiving the information required by clause (2) (c) from the host distributor and before the expiry of the period specified by the Financial Corporation. O. Reg. 435/02, s. 11 (3). (4) If the participating retailer’s “N” in respect of a designated contract is less than “P”, an amount equal to the difference between “N” and “P” is payable as follows: 1. The Financial Corporation shall pay that amount to the IMO after receiving the information required by clause (2) (d) from the IMO. 2. The IMO shall pay that amount to the host distributor after receiving the information required by clause (2) (c) from the host distributor. 3. The host distributor shall pay that amount to the embedded distributor before the expiry of the period specified by the Board. 4. The embedded distributor shall pay that amount to the retailer before the expiry of the period specified by the Board. O. Reg. 435/02, s. 11 (4). (5) If, under section 12, the Financial Corporation and the IMO establish requirements that provide for interim payments based on estimates and for subsequent adjustments, subsections (1), (2), (3) and (4) apply with necessary modifications with respect to the estimated amounts for “N” and “P”. O. Reg. 435/02, s. 11 (5).