Hydro rates going up, ‘but not 26%’

Energy Minister Bill Bennett has denied reports that BC Hydro rates are poised to go up more than 26 per cent in the next two years.

VICTORIA – Energy Minister Bill Bennett has denied reports that BC Hydro rates are poised to go up more than 26 per cent in the next two years.

Bennett was peppered with questions Wednesday after one of BC Hydro’s unions released an internal BC Hydro document suggesting a 19 per cent rate increase next year and another six per cent the following year. The compounding effect would produce an increase of 26.4 per cent over two years.

Bennett said the document was prepared for a ministry committee working with BC Hydro on electricity rates, and has been revised three times since the leaked version was created in August. He said the committee has found ways to reduce the rate increases needed to cover extensive construction and other costs for the utility, but he wouldn’t put a number on the prospective rate increases.

The work includes identifying 19 independent power projects whose power purchase agreements are to either be cancelled or deferred.

NDP energy critic John Horgan said BC Liberal interference has led to the current situation.

“Expensive private power contracts, billions in Hydro debt hidden in deferral accounts, a sidelining of the independent B.C. Utilities Commission, an 84 per cent cost overrun on the Northwest Transmission Line,” Horgan said. “There is no question that the Liberal government has mismanaged BC Hydro.”

Bennett acknowledged that the government’s 2011 intervention to cap rate increases below four per cent for two years has increased the pressure on today’s rates. BC Hydro had been proposing rate hikes of more than nine per cent for 2012 and 2013.

“I think we are feeling the impact of decades of difficult decisions by successive governments, Socreds, NDP, BC Liberal,” Bennett said. “All of us have difficulty looking the ratepayer directly in the eye and saying, by the way, we’re going to increase your rates by X.”

 

Just Posted

Artists find showcase at Coast Collective gallery

Art from the Attic showcases forgotten treasures

Drop off your old branches in Colwood

Program helps keep city yards tidy

Premier John Horgan announces improvements to Highway 14

Construction on the $10 million project is set to begin immediately

Upgrades to Millstream overpass to begin Feb. 1

Project includes addition of left hand turn lane onto highway to Victoria

Victoria Grizzlies look to continue hot steak

Team hits the road this weekend before Family Fun Night

Monster trucks invade Victoria

Traxxas Monster Truck Tour stops at Save-On Foods Memorial Centre this weekend

Wind warning back in effect around Vancouver Island

80 km/h winds expected Saturday, Jan. 20, on east coast of Island, 100 km/h on west coast

VIDEO: Thousands join women’s march events across B.C.

Today marks one year since the first Women’s March on Washington

UPDATE: BC Transit’s handyDart service strike delayed

LRB application by contractor means new strike notice must be issued by union

Two Canadians, two Americans abducted in Nigeria are freed

Kidnapping for ransom is common in Nigeria, especially on the Kaduna to Abuja highway

Are you ready for some wrestling? WWE’s ‘Raw’ marks 25 years

WWE flagship show is set to mark its 25th anniversary on Monday

B.C. woman who forged husband’s will gets house arrest

Princeton Judge says Odelle Simmons did not benefit from her crime

Women’s movement has come a long way since march on Washington: Activists

Vancouver one of several cities hosting event on anniversary of historic Women’s March on Washington

Liberals’ 2-year infrastructure plan set to take 5: documents

Government says 793 projects totalling $1.8 billion in federal funds have been granted extensions

Most Read