Wednesday, March 31, 2010

BC Hydro wins interim rate hike of nearly 10 per cent effective April 1

VANCOUVER, B.C. — Just days after B.C. residents managed to trim power consumption by a mere one per cent during Earth Hour, BC Hydro has permission to impose what could be an unintended energy-saving incentive. The utility can raise rates by a combined 9.11 per cent on April 1. An official with the BC Utilities Commission says interim approval has been granted for a 6.11 per cent general increase, as well as a three-per-cent jump in Hydro's so-called rate rider. Philip Nakoneshny, the commission's director of rates and finance, says a final decision on Hydro's application won't be made for several months, meaning the higher rate could be refunded. If approved, the increase will add about seven dollars to the average customer's monthly bill, amounting to a hike of just under 100 dollars a year. Hydro says the province averaged a mere 1.04 per cent power reduction during Earth Hour on Saturday night, considerably lower than the two per cent cut achieved in 2008.

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