B.C. Hydro rate freeze promised for 2018

B.C. Hydro rate freeze promised for 2018

Three per cent rate increase to be cancelled, review after Site C fate determined

The B.C. government has applied to freeze B.C. Hydro electricity rates for one year and cancel a proposed three per cent hike originally planned for next year.

Energy Minister Michelle Mungall said Wednesday the one-year freeze will give time for a complete review of B.C. Hydro’s debt and its projects. That will start affter the cabinet decides the fate of the Site C dam project on the Peace River.

In debate on her ministry’s budget Tuesday, Mungall cited a B.C. Hydro esitmate that cancelling the Site C project would translate into a 10 per cent rate increase for the utility, or additional debt of $4 billion to cancel the dam project and return the site to the state it was two years ago when construction began.

RELATED: Decision time for John Horgan on Site C dam

“That is why we are commencing our review of B.C. Hydro following our decision on Site C, so we’re not speculating but we are working with factual information in terms of the direction that we’re taking,” Mungall told reporters at the legislature Wednesday.

B.C. Liberal finance critic Tracy Redies said the one-year freeze takes $150 million in revenue away from B.C. Hydro, and cancelling Site C would make matters worse.

Premier John Horgan campaigned on a promise to freeze rates and complete an independent review of Site C by the B.C. Utilities Commission.

Hydro rates have increased 24 per cent over the last four years, as the utility has taken on major construction upgrades and deferred debt to keep rates from rising even higher.. The rate freeze follows a budget commitment made in September to phase out the provincial sales tax on electricity sold to businesses.

Horgan said his government will be meeting with B.C. Hydro officials in the new year to discuss a number of issues including deferred debt, the steady increase in electricity pricing and also the two-tier billing system that charges a higher rate to large residential consumers.


@ashwadhwani
ashley.wadhwani@bpdigital.ca

Like us on Facebook and follow us on Twitter.

Just Posted

EJ Dunn principal Darrin Olson, left, and Nuu-chah-nulth Tribal Councils Richard Samuel, right, present Trey Kyte, second from left, with his Grades 2-3 Spring Festival 2021 winning poster. With them are Kytes fellow banner painters Liam Horbatch, Sybil Purwins and Macen Avery. (SUSAN QUINN/ Alberni Valley News)
SD70’s biennial First Nations spring festival goes virtual for 2021

Alberni Valley schools showcase Indigenous learnings from past year

Port Alberni court house (Alberni Valley News)
Coroners’ inquest into 2016 death of Port Alberni teen rescheduled for June 21

18-year-old Jocelyn George died of heart failure after spending time in jail cell

CELEBRATING IN STYLE
Members of the 2021 Alberni District Secondary School graduating class pose for a photo at McLean Mill National Historic Site on June 12. Graduates held their prom on Saturday, although things looked a little different due to COVID-19. See more on page A10. (ELENA RARDON / ALBERNI VALLEY NEWS)
Port Alberni 2021 grads celebrate prom with car cruise

Special event held at McLean Mill National Historic Site

The Port Alberni Bombers are one of the newest teams in the VIJHL. (SUBMITTED PHOTO)
Port Alberni Bombers to host first ID camp for roster spots

Roster spots for the Junior B team will be filled at the conclusion of the camp

People watch a car burn during a riot following game 7 of the NHL Stanley Cup final in downtown Vancouver, B.C., in this June 15, 2011 photo. THE CANADIAN PRESS/Geoff Howe
10 years ago: Where were you during the 2011 Vancouver Stanley Cup Riots?

Smashed-in storefronts, looting, garbage can fires and overturned cars some of the damage remembered today

A still image from security camera video recorded June 8 shows an individual lighting trash on fire in the doorway of 19+ Cannabis Store on Victoria Crescent. RCMP and Nanaimo Fire Rescue are investigating numerous fires set in downtown Nanaimo in the past three months. (Photo submitted)
‘It’s out of control’: More than 20 fires set in downtown Nanaimo in past 3 months

Authorities asking business owners to keep dumpsters locked

(Black Press Media file)
Dirty money: Canadian currency the most germ-filled in the world, survey suggests

Canadian plastic currency was found to contain 209 bacterial cultures

(pixabay file shot)
B.C. ombudsperson labels youth confinement in jail ‘unsafe,’ calls for changes

Review states a maximum of 22 hours for youth, aged 12 from to 17, to be placed in solitary

Eleonore Alamillo-Laberge, 6, reads a book in Ottawa on Monday, June 12, 2017. THE CANADIAN PRESS/Sean Kilpatrick
Parents will need to fight ‘COVID learning slump’ over summer: B.C. literacy experts

Parents who play an active role in educating their children this summer can reverse the slump by nearly 80%, says Janet Mort

The border crossing on Highway 11 in Abbotsford heading south (file)
Western premiers call for clarity, timelines on international travel, reopening rules

Trudeau has called Thursday meeting, premiers say they expect to leave that meeting with a plan

The B.C. government’s vaccine booking website is busy processing second-dose appointments, with more than 76 per cent of adults having received a first dose. THE CANADIAN PRESS/Jonathan Hayward
B.C.’s COVID-19 infections, hospitalizations stable for Tuesday

108 new confirmed cases, 139 in hospital, 39 in intensive care

Cannabis bought in British Columbia (Ashley Wadhwani/Black Press Media)
Is it time to start thinking about greener ways to package cannabis?

Packaging suppliers are still figuring eco-friendly and affordable packaging options that fit the mandates of Cannabis Regulations

Most Read