During January 2007, the company has filed an application with the Ontario Energy Board to change its distribution rates and about participation in a combined proceeding, relating to rate adjustments for smart meters.
Steve Robinson, chief administrative officer said that the company, to get a nod from the province and the Ontario Energy Board (OEB) to continue to buy and equip meters, has been working with the Cornerstone Hydro Electric Concepts (CHEC) Group consultants. The installation and implementation of the SmartMeter is estimated to cost around $2.1m. The company is due to install the meters by the end of 2010.
Robinson said that over the next three years, the company’s other capitol projects would include land acquisition for a new hydro sub-station; underground hydro installation during the Albert/Queen Street Road reconstruction; and voltage conversion from 4.1kV (kilovolts) to 27.6kV along town streets which is a part of a 10-year plan. On an average the company is spending $1m annually on the project.
Over the next two years, the company has targeted streets, which include John Street North; Burwash Street, Hayden, Murray, and Spragge crescents; Victoria/Maguire streets; Harden and Marion streets, Sandra Crescent, Sinclair Street; King Street East; and Burnham, Barbara, Elizabeth, Shirley, Norma and Ruth streets.
By May 2010, the Cobourg residents and businesses can expect SmartMeters.
