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Province launches sweeping review of Ontario Energy Board

Last Updated Dec 20, 2017 at 5:13 am EDT

Glenn Thibeault arrives to speak with the media in Toronto on Sept. 12, 2016. THE CANADIAN PRESS/Peter Power

Ontario is launching a sweeping review of the province’s energy regulator as it hopes to adapt to a rapidly changing market.

The Liberal government has tapped Richard Dicerni, a former head of Ontario Power Generation, to lead a year-long review of the Ontario Energy Board.

Energy Minister Glenn Thibeault says it will look at how the O-E-B should keep up with new technology and new consumer demands.

He says in the near future more people will be putting solar panels on their roof, storing excess power and perhaps using it to power their electric vehicle.

Thibeault says the last time the O-E-B looked at updating its regulations 10 years ago, when a lot of the new energy innovations didn’t exist.

The O-E-B sets rules for energy companies and establishes rates that consumers pay.

The government says that in the last eight years the O-E-B has reduced companies’ requested rate increases by an average of 40 per cent.