BC Hydro seeks 33% rate hike over 4 years

CBC NEWS: MARCH 3:

BC Hydro rates could rise by 33 per cent over the next four years, according to figures released in Tuesday's provincial budget. The Crown corporation has already asked the B.C. Utilities Commission to approve an increase in electricity rates of more than nine per cent this year. If approved, the rate increase would add about $7 to the average customer's monthly bill starting in April. The budget projected additional rate increases for the subsequent three years of six, 12 and six per cent, respectively. BC Hydro says the increases are necessary so that it can upgrade its infrastructure, but critics say the government is taking utility in the wrong direction.