Some customers of Enova Power Corp will be getting a small credit this year as the company settles an overpayment issue that occurred from 2014-2018.
According to a release from the Ontario Energy Board, Waterloo North Hydro (one of the former companies which now makes up Enova Power Corp) overcharged customers $1.6 million from 2014 to 2018 while undercollecting another $500,000 between 2019 and 2020.
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“As agreed to by the Ontario Energy Board, Enova is repaying customers for the over collection, including interest, as a credit as part of their 2023 distribution rates from January to December 2023,” a spokesperson for Enova told Global News in an email.
“The bulk of the reimbursement only applies to large-use commercial customers. The average residential customer will receive less than $1.”
Kitchener-Wilmot Hydro Inc. and Waterloo North Hydro merged in 2022 to form Enova Power Corp, and as the issue predated the merger, only those served by Waterloo North Hydro will get the rebate.