National Energy Board Cost Recovery Regulations (SOR/91-7)

18 On or before September 30 in every year, the Board shall calculate, for each large oil pipeline company, large gas pipeline company and large power line company,

• (a) the amount, if any, by which the cost recovery charge paid by that company for the preceding year exceeds the revised cost recovery charge of that company; or

• (b) the amount, if any, by which the revised cost recovery charge of that company exceeds the cost recovery charge paid by that company for the preceding year.

19 Every year the Board shall adjust the cost recovery charge for the following year of each large oil pipeline company, large gas pipeline company and large power line company by deducting from it the amount calculated under paragraph 18(a) for that company, if any, or by adding to it the amount calculated under paragraph 18(b) for that company, if any.

Invoicing and Interest

• 20 (1) On June 30 in every year, the Board shall issue to each company that is required to pay an administration levy under subsection 4(4) or section 5.1 an invoice for the amount of the levy.

• (2) On March 31, June 30, September 30 and December 31 in every year, the Board shall issue to each large oil pipeline company, large gas pipeline company and large power line company an invoice for 25% of the cost recovery charge payable by that company for that year, as adjusted under section 19.

• (3) Except for a levy that is required to be paid under subsection 5.2(1) or 5.3(1), the amount of any levy or charge that is payable to the Board shall be paid within 30 days after the date of the Board’s invoice for the amount.

• (4) If a company fails to pay any amount invoiced by the Board within the period required by these Regulations, the company shall pay interest on the outstanding amount at a rate of 1.5% per month, compounded monthly, beginning

  • (a) in the case of amounts payable under subsection (3), on the 31st day after the date of the Board’s invoice; and

  • (b) in the case of levies payable under subsections 5.2(2) and 5.3(2), on the 91st day after the date of the Board’s invoice.

21 [Repealed, SOR/98-267, s. 7]