Powell River residents can expect to pay more for electricity, possibly as soon as April 1.
BC Hydro filed an application to increase its rates with the British Columbia Utilities Commission on March 1. It is seeking rate increases of 9.73 per cent in each of the fiscal years of 2012, 2013 and 2014. The increases add up to a cumulative hike of 32 per cent over the three years and 50 per cent over the next five years.
That translates into a monthly increase of approximately $7 to the average monthly residential bill for each of the next three years. An average monthly bill will rise from about $71 per month to about $94 by 2014.
Hydro’s application asked the utilities commission for permission to begin charging the higher rates April 1, before a public hearing takes place.
The power authority is proposing to invest $6 billion to upgrade and expand capital infrastructure province-wide, which is the most significant cost factor driving the rate increases. The largest capital project is an $860-million upgrade of the Ruskin Dam and generating station near Mission. Hydro’s application states it would see an annual revenue shortfall of $320 million in 2011-2012, rising to $1 billion by 2013-2014 with its existing rates.
Meanwhile, Hydro is presenting its long-term energy plan to the public throughout March.
The power authority will be hosting 12 open houses at various locations across the province. The public will have the chance to express their opinions and concerns regarding the future of the province’s electricity.
The open house schedule doesn’t include Powell River. The closest venue is on Vancouver Island. An open house is scheduled in Campbell River on Thursday, March 10. There are also open houses in Victoria, on Wednesday, March 9, and in Vancouver, on Tuesday, March 15.
Hydro officials say the opinions the company gathers will be reviewed as it develops its Integrated Resource Plan (IRP), a 20-year plan that will examine how to satisfy the province’s growing demand for electricity.
The open houses will include discussions regarding additional electricity conservation and efficiency issues, new clean energy options and methods to deliver new electricity loads to high-user areas. The IRP includes an exploration of market opportunities to export clean electricity to support clean energy and economic development objectives, as well as an assessment of transmission requirements looking ahead 30 years.
People who are unable to attend an open house are invited to submit feedback online at Hydro’s website, or by emailing [email protected].
