B.C. residents and businesses get break on electricity bills for three months
VICTORIA -
B.C. residents who have lost their jobs or had their wages cut will get a three-month break on BC Hydro bills, while small businesses are also eligible to apply for similar relief.
Premier John Horgan said Wednesday the credit for residential customers will be three times a household’s average monthly bill over the past year and does not have to be repaid as part of the government’s support package during the COVID-19 pandemic.
He said small businesses that are closed will not have to pay their power bills for three months and large industrial customers, including those operating mines and pulp mills, can opt to have 50 per cent of their electricity costs deferred.
BC Hydro rates will be cut for all customers by one per cent as of April 1 after the B.C. Utilities Commission provided interim approval of an application the utility submitted last August.
Eligible residential customers can apply for bill relief starting next week and small business applications will be accepted as of April 14, with the deadline for both categories set at June 30.
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Customers on the hook for $5.5 billion in deferred BC Hydro operating costs: report
VICTORIA - Auditor General Carol Bellringer says BC Hydro has deferred $5.5 billion in expenses that it plans to recover from ratepayers in the future.
Bellringer focuses on the deferred expenses in a report on the public utility's use of rate-regulated accounting to control the prices it charges customers.
"As of March 31, 2018, BC Hydro reported a total net regulatory asset of $5.455 billion, which is what ratepayers owe," says the report. "BC Hydro expects to recover this from ratepayers in the future. For BC Hydro, this is an asset. For ratepayers, this is a debt."
She says rate-regulated…
