In the News
December 22, 2010
IPP’s Playing Minor Role in Rate Increases
Capital projects, upgrading of infrastructure account for most of proposed increases
By Jesse Ferreras
BC Hydro confirmed last week that independent power producers (IPP) are playing a role in the Crown corporation’s application to the B.C. Utilities Commission for rate increases.
In the fifth paragraph of a Dec. 2 news release, the power authority states that it is forecasting an increase of $7 each year for the next three years, on an average monthly bill of $71 – a total of 27 per cent over three years. The rate increases are subject to approval by the BCUC.
BC Hydro President and CEO Dave Cobb said he’s looking to implement the increases so that the Crown corporation can take on a $6 billion effort to renew and expand the province’s electricity infrastructure.
“We are committed to meeting B.C.’s growing demand for electricity by modernizing and investing in the province’s electricity system to safely keep the lights on for British Columbians,” Cobb said in a news release. “We are also taking steps to keep rates affordable by making our operations more efficient and introducing new conservation programs that will help offset rate increase.”
BC Hydro has a long list of capital projects it hopes to pay for through the rate increases. The projects include adding a fifth unit to the Revelstoke Generating Station; a seismic upgrade at the Coquitlam Dam; and increases in generating capacity at the Fort Nelson Generating Station.
…Speaking on background, a BC Hydro spokesman said in an e-mail that the capital projects account for half of the rate increase, while energy costs from sources such as independent power producers account for less than one fifth of the increases.
Link to article
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