Hydro Rates to Drop

Thursday, November 23, 2006 09:59 AM

While BC Hydro struggled to get the lights back on for many customers in the north, there was some news that may have been missed.

BC Hydro has been given approval to reduce rates by 1% effective February 1st. That is because the final approved rate increase is lower than the interim hike of 4.65% that was put in place in July.

That’s not all, there will also be a one time refund on your bill during the March/April billing cycle.

That refund amounts to $50 million province wide, there has been no indication of how much that would mean to the average northern household.

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Posted on Thursday, November 23, 2006 09:59 AM in News by 250 News

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Comments

Posted by: YamaDooPolCat on November 23 2006 7:07 AM

1% refund - about the price of half a cup of a Starbucks coffee.

Posted by: anniemartin on November 23 2006 7:40 AM

1% back equals about $12.00 per year for my house - don't know where I'll spend all that!

Posted by: owl on November 23 2006 8:47 AM

think I'll switch to electric heat ....

Posted by: diplomat on November 23 2006 9:00 AM

"- don't know where I'll spend all that!"

The SPCA will gladly accept that $12.00 and so would many worthwhile charities in Prince George.

Posted by: Palopu on November 23 2006 9:45 AM

Hydro should have put in an 8.65% increase then rolled it back to 3.65% and we would get a reduction of 5% which would be about $60.00 per year and we could all celebrate.

If 1% reduction in the increase converts into refunds of $50 Million Province wide, then the 3.65% increase means that Hydro picks up a tidy $175 Million dollars per year, this on top of the Hundreds of Million they already take in.

Where does the Money go???????

Posted by: Gofaster on November 23 2006 3:11 PM

And next year they will be raising the prices because of a big shortfall...

Posted by: owl on November 23 2006 6:12 PM

It costs a lot of money to keep the little electrons exited.

;-)

Posted by: Chester on November 23 2006 7:15 PM

That 1% refund will find it's way back into the economy of Prince George and could benefit many hungry people. 50,000 homes x $12 = $600,000

Why can't we appreciate even a slight refund? It's better than nothing. Hydro didn't have to apply to give us anything.

I am grateful and will propose that everyone who thinks it is so insignificant take their refund check down to St. Vincent de Paul and donate it to help feed those folks who will not be receiving a refund. Chester

Posted by: Rebeccas on November 23 2006 7:50 PM

Way to go Chester! The first comment full of grace posted on this! I agree whole heartedly. In fact, I'm impressed that BC Hydro projected so accurately on their increase - 1% is pretty close and I don't mind missing the $5 between July and now. I think I will make a donaton (of much more than my refund)in honor of BC Hydro being a responsible corporate citizen.

Posted by: Palopu on November 23 2006 9:48 PM

Lets get this straight. BC Hydro applied to the BC Utilities Commission for an increase of 4.65% This increase was reduced to 3.65% which means that Hydro has to refund the 1% because they had been collecting it during the interim increase.

You are getting nothing from Hydro. All you get back it the money you overpaid in the first place.

To suggest that BC Hydro would voluntarily give you a refund, would be like saying that the Big Bad Wolf doesnt like straw houses.

Since Hydro will collect somewhere in the area of $175 Million a year on this 3.65% increase, maybe it should be them who makes the contribution to St. Vincent De Paul. That would be a beginning in making them a good responsible (Government Owned) corporate (Taxpayer supported) Citizen.