Revelstoke dam on the Columbia River is due to have a sixth water turbine added

Revelstoke dam on the Columbia River is due to have a sixth water turbine added

BC Hydro rates rise as demand slows

Four per cent rate hike already in effect, more to come as BC Hydro looks for savings to offset slow industrial demand

BC Hydro is going ahead with its planned four per cent rate increase this year and deferring more debt to future years as it revises its electricity demand forecast downward.

The provincially-owned utility has not asked for an increase in its government-imposed rate plan despite a revised demand forecast with $3.5 billion less revenue over the next 10 years. BC Hydro has filed a three-year plan with the B.C. Utilities Commission that would increase rates four, 3.5 and three per cent in the next three years. The four per cent increase is already showing up on customer bills as an interim increase.

With the Site C dam on the Peace River and other upgrades amounting to $2 billion a year, the plan includes additional deferred debt until 2023, when Site C is due to be completed. BC Hydro CEO Jessica McDonald said the long-term nature of capital projects means its capital cost savings don’t start until the next decade.

BC Hydro has also cut some of its familiar Power Smart activities, such as the fridge buy-back plan and incentives for energy efficient light bulbs.

McDonald said BC Hydro is seeing lower revenues due to two warm winters and downturns in mining and forest products. It still projects growing overall demand as population and economic growth continue.

NDP energy critic Adrian Dix said the new deferred debt represents roughly $500 for each of BC Hydro’s two million customers, and it is a political move to get the B.C. Liberal government past next year’s election.

The 10-year rates plan imposed by Energy Minister Bill Bennett in 2013 overstated demand to justify the construction of Site C, and translates to a 28 per cent rate increase. It allows the utilities commission to regain control over approving customer rates by 2020, after five years of political direction.

Dix said with the new demand forecast and commodity prices expected to remain low, BC Hydro should have added a sixth turbine to its Revelstoke dam for $450 million before embarking on the $9 billion Site C project.

 

Just Posted

Ashcroft hospital emergency closed sign, 2016. Photo credit: Barbara Roden
Ashcroft Hospital emergency department closed this weekend

Closure due to unexpected limited physician availabiliy, says Interior Health

Residents line up outside the Vernon Recreation Complex for their COVID-19 vaccine Saturday, June 5. (Jennifer Smith - Morning Star)
No appointments necessary for first dose COVID-19 vaccine: Interior Health

People can just show up at clinics, register on the spot and get the shot

Heidi Roy of the Cariboo Jade Shop in Cache Creek with the 3,000 jade boulder, which is now on secure display inside the shop. (Photo credit: Barbara Roden)
Massive jade boulder returns to Cache Creek store six months after daring heist

The 3,000-pound boulder was stolen on Dec. 19, 2020 and found abandoned in the bush a week later

Dr. Albert de Villiers, chief medical health officer for the Interior Health Authority. (Contributed)
Child sex crimes charges against Interior’s top doc won’t impact pandemic response: Dix

Dr. Albert de Villiers is charged with sexual assault and sexual interference

At an outdoor drive-in convocation ceremony, Mount Royal University bestows an honorary Doctor of Laws on Blackfoot Elder and residential school survivor Clarence Wolfleg in Calgary on Tuesday, June 8, 2021. THE CANADIAN PRESS/Jeff McIntosh
‘You didn’t get the best of me’: Residential school survivor gets honorary doctorate

Clarence Wolfleg receives honorary doctorate from Mount Royal University, the highest honour the school gives out

Two-year-old Ivy McLeod laughs while playing with Lucky the puppy outside their Chilliwack home on Thursday, June 10, 2021. (Jenna Hauck/ Chilliwack Progress)
VIDEO: B.C. family finds ‘perfect’ puppy with limb difference for 2-year-old Ivy

Ivy has special bond with Lucky the puppy who was also born with limb difference

A million-dollar ticket was sold to an individual in Vernon from the Lotto Max draw Friday, June 11, 2021. (Photo courtesy of BCLC)
Lottery ticket worth $1 million sold in Vernon

One lucky individual holds one of 20 tickets worth $1 million from Friday’s Lotto Max draw

“65 years, I’ve carried the stories in my mind and live it every day,” says Jack Kruger. (Athena Bonneau)
‘Maybe this time they will listen’: Survivor shares stories from B.C. residential school

Jack Kruger, living in Syilx territory, wasn’t surprised by news of 215 children’s remains found on the grounds of the former Kamloops Indian Residential School

A logging truck carries its load down the Elaho Valley near in Squamish, B.C. in this file photo. THE CANADIAN PRESS/Chuck Stoody
Squamish Nation calls for old-growth logging moratorium in its territory

The nation says 44% of old-growth forests in its 6,900-square kilometre territory are protected while the rest remain at risk

Flowers and cards are left at a makeshift memorial at a monument outside the former Kamloops Indian Residential School to honour the 215 children whose remains are believed to have been discovered buried near the city in Kamloops, B.C., on Monday, May 31, 2021. THE CANADIAN PRESS/Darryl Dyck
‘Pick a Sunday:’ Indigenous leaders ask Catholics to stay home, push for apology

Indigenous leaders are calling on Catholics to stand in solidarity with residential school survivors by not attending church services

“They will never be forgotten, every child matters,” says Sioux Valley Chief Jennifer Bone in a video statement June 1. (Screen grab)
104 ‘potential graves’ detected at site of former residential school in Manitoba

Sioux Valley Dakota Nation working to identify, repatriate students buried near former Brandon residential school

The Queen Victoria statue at the B.C. legislature was splattered with what looks like red paint on Friday. (Nicole Crescenzi/News Staff)
Queen Victoria statue at B.C. legislature vandalized Friday

Statue splattered with red paint by old growth forest proponents

Most Read