As B.C. Hydro Reworks Estimates, Utility Seeks 4 Per Cent Interim Rate Hike

The Canadian Press, 26 Feb, 2016 12:40 PM

VANCOUVER — BC Hydro is calling for an interim, one-year rate increase of four per cent, adding about $4 a month to residential power bills.

Hydro President and CEO Jessica McDonald made the announcement while offering an update on how the Crown utility delivers its 10-year rates plan.

McDonald says the four per cent increase is included in the 10-year plan.

Hydro has applied to the B.C. Utilities Commission for the hike as it crunches numbers after the provincial government deferred hydro increases for B.C.'s mining sector.

McDonald says Hydro originally planned to submit a three-year application for rate increases of three to five per cent, but that request will be delayed for several months.

Hydro says it has to invest an average of $2.4 billion a year in the province's aging electricity system, upgrading facilities built in the 1960s, 70s and 80s.

Prev Next

MORE National ARTICLES

Conservatives Begin Campaign Post-mortem, Looking To The Future

On his final campaign flight from Abbotsford, B.C. to Calgary, Stephen Harper sat with his closest friends and began putting together the plan for his exit from the Conservative Party leadership.

Conservatives Begin Campaign Post-mortem, Looking To The Future

In A Poll-Driven Election Race, Pollsters Sigh Relief That They Got It Right

OTTAWA — Politicians like to say that the only poll that counts is the one on election day.

In A Poll-Driven Election Race, Pollsters Sigh Relief That They Got It Right

Plane Lands Safely In Cape Breton After Smoke Reported In Cockpit

Cape Breton Regional Police say no one was hurt when a Porter Airlines flight made an emergency landing Monday in Sydney.

Plane Lands Safely In Cape Breton After Smoke Reported In Cockpit

Will Harper's Conservative Footprint Endure, Or Soon Be Washed Away?

Stephen Harper came to office almost a decade ago with the goal of making Canada more conservative and dispelling the notion of the Liberals as the natural governing party.

Will Harper's Conservative Footprint Endure, Or Soon Be Washed Away?

Quebec Premier Philippe Couillard Says Federal Liberal Win Means Questions For Sovereignty Movement

Premier Phillipe Couillard says the Quebec sovereignty movement's leadership needs to ask itself some tough questions after the election of a majority of federal Liberals in the province.

Quebec Premier Philippe Couillard Says Federal Liberal Win Means Questions For Sovereignty Movement

Regulators Across Canada Warn About Sham Stock Promotion Using Popular Apps

VANCOUVER — Securities regulators in nine provinces are warning about fraudulent stock promotions that use popular smartphone applications such as WhatsApp to generate investor interest.