BC Hydro Proposes Ten Percent Hike in Rates
By 250 News
B.C. Hydro is proposing rate hikes of about 10% in each of the next three years. The increases necessary to cover B.C. Hydro's expansion of electrial infrastructure.
“We are committed to meeting B.C.’s growing demand for electricity by modernizing and investing in the province’s electricity system to safely keep the lights on for British Columbians, “ said BC Hydro President and CEO Dave Cobb. “We are also taking steps to keep rates affordable by making our operations more efficient and introducing new conservation programs that will help offset rate increases.”
According to B.C. Hydro, an average residential electricity bill is about $71 per month. BC Hydro is currently forecasting an average monthly bill increase of about $7 each year for each of the next three years. B.C Hydro is quick to add the proposed increases are "only estimates and are subject to further BC Hydro review and approval by the BCUC."
BC Hydro will be passing along a credit to its customers in the early part of the new year, as it's interim rate hike of 9.3% which has been charged since last April, has been scaled back by the BCUC to 7.29 %.
BC Hydro plans to file its next rate application to the BCUC for review and approval no later than March 2011.
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