BC Hydro Rates To Jump 25.5 Percent Over Five Years Despite Earlier Denials!

Premier Christy Clark and the BCLiberal government are giving BC votersthe middle finger in announcing Tuesdaythat they plan to bring in huge rate hikesat B.C. Hydro beginning next year. It’s akind of Thank-You to voters for electingthem again! Earlier this year, PremierChristy Clark said she would notapprove a requested 26 per cent boost inhydro rates.

VANCOUVER – PremierChristy Clark and the BC Liberalgovernment are giving BC votersthe middle finger inannouncing Tuesday that theyplan to bring in huge rate hikesat B.C. Hydro beginning nextyear. It’s a kind of Thank-Youto voters for electing themagain!BC Hydro rates are slated to rise25.5 per cent over the next fiveyears as part of a decade-longplan revealed by the province’senergy minister Bill Bennett,who said his government willbring in an increase of nine percent next year, followed byanother six per cent hike in2015. Another 10.5 per centincrease is slated for the threeyears after that.Earlier this year, Premier ChristyClark said she would notapprove a requested 26 per centboost in hydro rates.SFU Health Sciences associateprofessor John Calvert says thefinancial problems at BC Hydroare the result of the government’sown policies. “The government has been using BCHydro to support its resource-based economicagenda by building new transmissionlines to support oil and gas developments,LNG plants and new mines,” saysCalvert.“The risks of these government policiesare being borne by the ratepayers and weare now seeing the results in the form ofmajor rate increases.”NDP readily agreed with Calvert’s assessment,saying the massive increases are aresult of more than a decade of Liberalmismanagement of our utility.“The Liberal government’s 15.6-per-centhydro rate hike over the next two yearsmeans the average customer will pay $166more per year,” said New Democrat energycritic John Horgan. “BritishColumbians who heat their home withelectricity will face a much larger hike totheir bill.“For some families in the North,it may mean the choice between beingwarm in the winter or a healthy meal everynight for the family.”Horgan said after only the first year ofrate hikes businesses will also pay about$240 more per year, and the average annualhike for large industrial users is a massive$1.7 million.The Liberals blame infrastructure needsfor the rate hike, but Horgan says that’sonly part of the story. He pointed out thatleaked documents released this fall showthe cost of new electricity supply fromprivate power producers has risen fasterthan any other costs.“The Liberal government has locked usinto contracts with private power producersthat force us to buy very expensivepower even when we don’t need it. Thenwe sell it back to the open market at ahuge loss. This buy high, sell low schemeis another reason ratepayers are seeing amajor hike to their bill today.”Horgan said the announcement ensuresthis Liberal mismanagement will continuefar into the future.“The Liberals also announced that theyintend to open yet another deferralaccount that will hide even more debt, andthey have signalled they intend to raid dividendsoff phantom profits for up to tenmore years.”Horgan said the Liberals need to bringback the independent oversight of theB.C. Utilities Commission, saying theremoval of that oversight in rate settingand spending billions of dollars of projectssuch as Site C and the bungled SmartMeter program was a huge mistake.“The B.C. Utilities Commission was set upto protect ratepayers and to protect governmentsfrom themselves. The Liberalssignalled today that they’ll continue tokeep the BCUC from doing their joblooking out for the public interest.”Even Bennett couldn’t keep a straight facein announcing the rate hikes while assertingthe usual government rhetoric.”It’s still a rate increase,” said Bennett.”The 10-year plan is balanced and it’sresponsible and it will keep rates as low aspossible. The goal of the 10-year plan is tokeep rates predictable.”