BC Hydro seeks 4 per cent rate hike

By Pete McIntyre
February 26, 2016 - 11:23am Updated: February 26, 2016 - 12:10pm

VERNON, B.C. — BC Hydro is seeking a four percent rate hike for the coming year

The Crown corporation has filed an application with the BC Utilities Commission.

If approved, the increase would take effect April 1st.

It's the maximum increase allowed under provincial policy.

For the average residential customer, it would add $4 a month in electricity costs.

BC Hydro President/CEO Jessica McDonald says the new rate is consistent with the 10-Year Rates Plan announced by the Province in 2013 which capped increases at four per cent.

“We are on-track to deliver the 10-tear plan which provides certainty for British Columbians and ensures rates remain as low as possible while BC Hydro invests in the electricity system.”
 
McDonald says Hydro must invest, on average, $2.4 billion a year in the province’s aging electricity system to ensure B.C. continues to benefit from safe, reliable, clean power.

"Most of BC Hydro’s major facilities were built in the 1960s, 70s and 80s and we must maintain and refurbish those assets while investing in new infrastructure to meet the growing demand for power."

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