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.

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

Victoria-based driving instructors are concerned for their own and the community’s safety with the continued number of residents from COVID hotspots in the Lower Mainland coming to the city to take their driving road tests. (Black Press Media file photo)
Students from COVID hotspots travel to Victoria for driving tests

Union leader calls on government to institute stronger travel ban

(Courtesy Saanich Police Dept.)
Police hope boot search will help find missing Saanich man

Sean Hart is known to walk for miles, with or without his boots

A Colwood couple has set up over 140 Christmas inflatable decorations around their property at 555 Girdou Rd. The home is lit with Christmas music playing from 3 p.m. to 8 p.m. Sunday through Thursday and 3 p.m. to 11 p.m. Friday and Saturday. (Aaron Guillen/News Staff)
PHOTOS: Colwood house decorated to the nines with Christmas inflatables

Display on Girou Road open to spectators from 3 to 8 p.m. Sunday through Thursday

Shopping in the evening in downtown Victoria can be a good time to go, with relatively few people in store and plenty of room to physically distance, as this photo from Government Street shows. (Don Descoteau/News Staff) 
Shopping in the evening in downtown Victoria can be a good time to go, with relatively few people in store and plenty of room to physically distance, as this photo from Government Street shows. But thanks to a new program from the Downtown Victoria Business Association, many downtown businesses will soon be able to provide free delivery for customers across the region. (Don Descoteau/News Staff)
Downtown Victoria businesses offered free delivery for regional customers

DVBA launches ‘Downtown Delivers’ program Dec. 7

Pickleball game in Vancouver on Sunday, November 8, 2020. B.C.’s public health restrictions for COVID-19 have been extended to adult team sports, indoors and outside. THE CANADIAN PRESS/Darryl Dyck
711 more COVID-19 cases detected in B.C. Friday

‘Virus is not letting up and neither can we’

Demonstrators, organized by the Public Fishery Alliance, outside the downtown Vancouver offices of Fisheries and Oceans Canada July 6 demand the marking of all hatchery chinook to allow for a sustainable public fishery while wild stocks recover. (Public Fishery Alliance Facebook photo)
Angry B.C. anglers see petition tabled in House of Commons

Salmon fishers demand better access to the healthy stocks in the public fishery

(Hotel Zed/Flytographer)
B.C. hotel grants couple 18 years of free stays after making baby on Valentines Day

Hotel Zed has announced a Kelowna couple has received free Valentines Day stays for next 18 years

Farmers raise slogans during a protest on a highway at the Delhi-Haryana state border, India, Thursday, Dec. 3, 2020. Prime Minister Justin Trudeau rejected the diplomatic scolding Canada’s envoy to India received on Friday for his recent comments in support of protesting Indian farmers. Tens of thousands of farmers have descended upon the borders of New Delhi to protest new farming laws that they say will open them to corporate exploitation. THE CANADIAN PRESS/AP-Manish Swarup
Trudeau brushes off India’s criticism for standing with farmers in anti-Modi protests

The High Commission of India in Ottawa had no comment when contacted Friday

Nurse Kath Olmstead prepares a shot as the world’s biggest study of a possible COVID-19 vaccine, developed by the National Institutes of Health and Moderna Inc., gets underway Monday, July 27, 2020, in Binghamton, N.Y. U.S. biotech firm Moderna says its vaccine is showing signs of producing lasting immunity to COVID-19, and that it will have as many as many as 125 million doses available by the end of March. THE CANADIAN PRESS/AP-Hans Pennink
Canada orders more COVID vaccines, refines advice on first doses as cases reach 400K

Canada recorded its 300,000th case of COVID-19 on Nov. 16

Apartments are seen lit up in downtown Vancouver as people are encouraged to stay home during the global COVID-19 pandemic on Thursday, Dec. 3, 2020. British Columbia’s deputy provincial health officer says provincewide data show the most important area B.C. must tackle in its response to the COVID-19 pandemic is health inequity. THE CANADIAN PRESS/Marissa Tiel
Age, income among top factors affecting well-being during pandemic, B.C. survey shows

Among respondents earning $20,000 a year or less, more than 41 per cent reported concern about food insecurity

The opening day on Mount Washington this year was Dec. 4. Screenshot
Mount Washington opens on time, COVID-19 protocols in place

“We’re super excited - it’s been six months in the planning.”

British Columbia Health Minister Adrian Dix wears a face mask to curb the spread of COVID-19, during an announcement about a new regional cancer centre, in Surrey, B.C., on Thursday, August 6, 2020. THE CANADIAN PRESS/Darryl Dyck
PHSA bought faulty respirators; spent money on catering, renovations: Dix

Such spending included ‘unnecessary, unbudgeted renovations’ to the authority’s headquarters in Vancouver

B.C. NDP leader John Horgan releases his election platform, Vancouver, Oct. 6, 2020, featuring COVID-19 relief payments promised for most households. (B.C. NDP photo)
Next $1.5 billion in B.C. COVID-19 cash ‘prudent,’ Horgan says

New round of payments for household incomes up to $175,000

Most Read