Revenue Requirements Application
For F2005/06 revenue requirements application
On October 29, 2004, the BC Utilities Commission (BCUC) issued its direction on BC Hydro's 2005/06 Revenue Requirements application [PDF, 282 KB]. As part of the application, BC Hydro requested an 8.9% rate increase for fiscal year 2005, and 0% for fiscal year 2006.
BCUC's decision indicates "BC Hydro has established that a one-time significant increase in revenue requirements is needed in order to earn its allowed rate of return."
- BCUC Decision, October 29, 2004 [PDF, 1.6 MB]
On November 15, 2004 BC Hydro provided the BCUC with its updated financial schedules [PDF, 910 KB] including a revised rate increase of 4.85% for fiscal 2005. On November 24, 2004 the BCUC confirmed the revised rate [PDF, 101 KB] of 4.85%.
The permanent increase of 4.85% is effective retroactively as of April 1, 2004 and will appear as the new rate on customers bills December 3, 2004. This increase differs from the interim rate of 7.23% charged since April 1, 2004 awaiting the BCUC decision on the final rate. The difference between the two rates will be refunded to customers as a credit with interest on their bills after January 16, 2005.