Law360 Canada ( September 22, 2016, 8:00 PM EDT) -- Motion by Ontario Electricity Financial Corporation (OEFC) to stay parts of a judgment requiring it to pay approximately $160 million to the respondents, pending the outcome of its application for leave to appeal to the Supreme Court of Canada and, if leave was granted, a determination on the merits. OEFC was a Crown agency whose objects included managing the former Ontario Hydro’s non-utility generator contracts. The responding parties were privately-owned non-utility generators (NUGs) who entered into power purchase agreements with the former Ontario Hydro between 1989 and 1994. In January 2011, a new regulation came into force. OEFC relied on it to amend the formula it used to calculate the payments it made to the NUGs. The new formula resulted in decreased payments to the NUGs. The NUGs commenced six separate applications alleging that the new formulas breached the power purchase agreements. In their applications, the NUGs asked for orders requiring OEFC to resume making payments in accordance with the way they had been calculated before the regulation came into force and requiring OEFC to pay them the difference between what they had been paid during the relevant period and what they would have been paid had OEFC not paid according to the new formula. The judge that heard the applications found that the new formula did not comply with the power purchase agreements. He granted the applications and ordered OEFC to make both “go-forward” and retroactive payments. OEFC’s appeal from that order was dismissed. It had made the go-forward payments, but the retroactive payments were stayed pending the decision from the Court of Appeal. OEFC had since applied for leave to appeal to the Supreme Court....