The B.C. government has applied to freeze B.C. Hydro electricity rates for one year

B.C. Hydro rate freeze promised for 2018

The B.C. government has applied to freeze B.C. Hydro electricity rates for one year

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.

“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.

Just Posted

Ocean “Blob” returns to North Coast of B.C.

A 2,000 kilometre patch of warm ocean water could signal a warm winter in Prince Rupert

‘Police are ready’ for legal pot, say Canadian chiefs

But Canadians won’t see major policing changes as pot becomes legal

VIDEO: This is what buying legal pot in B.C. looks like

Take a look inside B.C.’s first and only legal pot shop located in Kamloops

10 things still illegal in the new age of recreational cannabis

Pot is legal – but there are still a lot of rules, and breaking some could leave you in jail

CCRD Candidates detail their election platforms

More candidate profiles to come….

Tommy Chong says cannabis legalization makes him proud to be a Canadian

Legendary marijuana advocate and comedian celebrates cultural milestone at Kelowna event

Prank pizzas delivered to B.C. mayor on election night

The fake orders happened throughout Victoria mayor’s re-election campaign

MLA to become Nanaimo’s next mayor, could weaken NDP’s grasp on power

Leonard Krog’s win will trigger a byelection when he gives up his provincial seat

Horvat nets OT winner as Canucks beat Bruins 2-1

Young Vancouver star had spirited scrap earlier in contest

Team Canada gold medal winners for first time in world curling championship

Team Canada earned gold in Kelowna at the 2018 Winn Rentals World Mixed Curling Championship

B.C. passenger caught smoking weed in a car issued $230 fine

Saanich police did a field sobriety test on the driver and deemed it safe for him to drive

Payette invites critics to ‘come and spend a few days’ with her

Governor General Julie Payette made her first official to B.C. back in March

More pot stores expected in B.C. in coming ‘weeks and months’: attorney general

Attorney General David Eby and Public Safety Minister Mike Farnworth visited the new BC Cannabis Store in the province’s Interior

Telus launches charitable foundation to help vulnerable youth

The Telus Friendly Future Foundation complements other social initiatives by the company, including Mobility for Good

Most Read