Given the complexity of the cases involved and the tight timelines in which to preserve its rights, Summitt Energy issued a hearing request and intends to:

-           fully investigate the allegations made against it and specifically relating to the activities of five agents;

-           implement and monitor a number of new sales procedures established by it in an effort to help consumers; and

-           continue to co-operate fully with staff at the OEB with a view toward finding a mutually acceptable approach to resolving all matters connected with the allegations.

"While our internal review of the allegations is ongoing and a date for the hearing has not yet been set by the OEB, the entire management team at Summitt Energy is focused on working with the OEB toward a full and final resolution of this matter", said Gerry Haggarty, President of Summitt Energy.

Background:

On June 17, 2010, Summitt Energy received a Notice of Intention to make an Order for Compliance and an Administrative Penalty from the OEB. The allegations made in the OEB Notice involve the sales practices of five agents over an 18 month period.

Summitt Energy is one of the largest energy retail companies in Ontario, representing over 100,000 customers across the province. Established in 2006 and headquartered in Mississauga, Summitt Energy offers residential and business customers a variety of natural gas and electricity price protection programs.  In 2008, Summitt Energy launched the Summitt EverGreen Program, designed to offset greenhouse gas emissions from homes in Canada.

June 7, 2010
The Toronto Star

Most of the public concern over our electricity system has been focused on the production side – how long our aging nuclear reactors will last, when we should shut down the coal-fired plants, and what mix of power sources is needed for the future.

April 9, 2010
The Globe and Mial

Erco Worldwide shut down its chemical plant in Thunder Bay four years ago after blaming rising power costs for making the factory uneconomic, and now president Paul Timmons worries a similar fate may be in store for his customers in the pulp and paper industry.

While Premier Dalton McGuinty touts the “green jobs” that will result from unprecedented investments in renewable energy, Mr. Timmons echoes critics who are more focused on the rising price of electricity, which they fear is eroding the competitiveness of Ontario's industrial power customers.

June 23, 2010
The Toronto Star

Toronto Hydro will ask Canada’s highest court to give it more latitude to increase rates so it can make dividend payments to the City of Toronto.

Hydro is seeking to overturn a ruling by Ontario Court of Appeal. The court had approved restrictions imposed by the Ontario Energy Board on the utility’s ability to jack up rates.

Toronto Hydro is now seeking leave to appeal that decision to the Supreme Court of Canada.

 Summitt Energy does not condone the sales agent practices described in the Ontario Energy Board's notice and is taking these customer allegations very seriously. Summitt Energy has already commenced a detailed review of each case cited in the notice in an effort to evaluate the merit of the allegations made.  In that regard, Summitt Energy has implemented the following  measures: 

 1) suspending the five (5) sales agents until a review of the allegations is completed,
 2) implementing a point of sale quality call with each of its new customers, and
 3) providing customers with a one page plain language disclosure document, which carefully explains that Summitt Energy  is not affiliated with any local utility or any governmental agency or body and outlines the main terms of the agreement.

 The goal of these measures is to ensure that Summitt Energy is compliant with all regulatory requirements, follows all the best practices of the energy marketing industry, and most importantly ensures that its customers are fully informed when making decisions regarding energy purchases. 

 Summitt Energy is based in Mississauga, Ontario and is licensed through the Ontario Energy Board as a natural gas marketer and electricity retailer.  It is committed to providing Ontario consumers with value added energy products that will assist them in budgeting their energy costs and addressing their home energy efficiency needs.

June 9, 2010
The Globe and Mail

I think we'll see triple-digit oil prices by next year, and we'll realize that 2008 was not some result of some speculative fix in the market, but rather a fundamental imbalance between global demand and global supply.

May 22, 2010
The Hamilton Spectator

If you haven't already, you're about to get a nasty shock when you open your electricity bill.

New time-of-use charges (based on smart meter readings) coupled with an Ontario Energy Board (OEB) increase of $5.78 for Horizon customers (based on average usage and HST) are being loaded onto bills this spring.

May 11, 2010
The Toronto Sun

Bad enough energy experts predict the cost of electricity in Ontario is going to skyrocket by about 25% by the end of next year...What's more frightening is the massive hike in electricity rates - which shows no signs of slowing down post-2011...