Financial Report
The sound financial management of Lakeland Holding Ltd. which includes Lakeland Power, Bracebridge Generation and Lakeland Energy continues to improve our operating performance and meet our stakeholder needs. We strive to maintain a strong and viable set of companies providing a consistent return to our shareholders. Below you will find our latest financial statements.
Financial Report
The sound financial management of Lakeland Holding Ltd. which includes Lakeland Power, Bracebridge Generation and Lakeland Energy continues to improve our operating performance and meet our stakeholder needs. We strive to maintain a strong and viable set of companies providing a consistent return to our shareholders. Below you will find our latest financial statements.
How Do We Rate?
The Ontario Energy Board has been working with all local electricity distribution companies in the province to create a scorecard that illustrates how well Ontario’s utilities are performing each year. Ontario’s electricity utilities will report their scorecard performance results annually, and make the results available to the public on their websites. Lakeland Power Distribution Ltd. posted its results on September 1, 2022 (showing the year 2021), which are available on both the Ontario Energy Board’s (OEB) and Lakeland Power websites.
Lakeland Power Rate Application 2023
Lakeland Power’s (LPDL’s) Application for Electricity and Distribution Rates and Charges effective May 1, 2023.
ONTARIO ENERGY BOARD
The Ontario Energy Board (OEB) sets transmission and distribution rates, and approves the Independent Electricity System Operator’s (IESO) budget and fees. The Board also sets the rate for the Standard Supply Service for distribution utilities that supply electricity (commodity) directly to customers.
INDEPENDENT ELECTRICITY SYSTEM OPERATOR
The Independent Electricity System Operator (IESO) ensures that sufficient electricity is available whenever and wherever it’s needed. It ensures there is enough power to meet the province’s energy needs in real time while also planning and securing energy for the future. It does this by:
- balancing the supply of and demand for electricity in Ontario and directing its flow across the province’s transmission lines;
- planning for the province’s medium- and long-term energy needs and securing clean sources of supply to meet those needs;
- overseeing the electricity wholesale market where the market price of electricity is set; and
- fostering the development of a conservation culture in the province through programs such as Save on Energy.