Revenue Requirements For Fiscal 2012 to Fiscal 2014
BC Hydro files amended revenue requirements application
BC Hydro filed an Amended Revenue Requirements Application (RRA) with the British Columbia Utilities Commission (BCUC) for fiscal years 2012-2014.
The application confirmed a 50 per cent reduction to the cumulative rate increase filed with the BCUC in March 2011. The 50 per cent reduction was announced in August following a full government review of the Crown utility to help reduce future rate increases.
What's behind these proposed rate increases
Clean, reliable electricity has powered British Columbia's homes and businesses and helped our economy grow for close to 50 years.
As we look back on that legacy, BC Hydro is looking ahead and planning for the future by reinvesting in the infrastructure required to continue to supply clean electricity. These capital investments mean BC Hydro needs to raise our rates.
The most significant cost factor driving rate increases is the finance and amortization charges required to support BC Hydro's ongoing capital program as the utility continues a regeneration phase. BC Hydro's dams, generating stations and transmission lines were built primarily between 1950 and 1980, and many of these assets are nearing their end of life.
Over the next three years, BC Hydro will invest on behalf of British Columbians about $6 billion to maintain, upgrade and expand capital infrastructure province-wide to maintain a safe, reliable supply of clean electricity.