FAQs

An ICM is a mechanism that allows distributors to apply for funding of significant capital investments between cost-of-service applications, provided certain criteria are met.

The OEB issued its Report of the Board – New Policy Options for the Funding of Capital Investments: The Advanced Capital Module (the 2014 Report) and the Report of the Board – New Policy Options for the Funding of Capital Investments: Supplemental Report (the 2016 Report) in 2014 and 2016, respectively. The OEB also issued a letter on February 10, 2022 providing an update on the ICM policy for distributors during extended rebasing deferral periods arising from utility consolidations. Collectively, the reports and the letter, among other things, outline the OEB’s current ICM policy.

The scope of the evaluation will include policy elements such as materiality threshold calculation, ICM during a deferred rebasing period, and treatment of Operations, Maintenance and Administration expenses. Other topics may also be considered during the consultation.

A draft ICM policy report combining relevant aspects of the 2014 Report, the 2016 Report, and the February 2022 letter, as well as proposed updates to the ICM policy is targeted to be released to stakeholders in October 2024. In November 2024, OEB staff will host a stakeholder meeting to discuss the proposed updates to the ICM policy and solicit verbal comments from stakeholders. Following the stakeholder meeting, the OEB will also provide stakeholders an opportunity to file written comments on proposed updates to the ICM policy.

Stakeholders who intend to participate are asked to email notice of their intention to registrar@oeb.ca by September 10, 2024. Emails should include “EB-2024-0236 Evaluation of the Incremental Capital Module Policy” in the subject line and provide the following information: 

• Participant/organization name;
• Name(s) of attendees to be registered; and
• A contact name, telephone number and email address.