Power rates to continue decreasing
Richard Brown says electricity rates are locked in for five years and will not be affected by what is happening on the international scene.
Beginning this March, electricity rates will fall by 14 per cent across all rate categories. That will save Islanders $25 million annually for the next two years for a total savings of $50 million.
Rates are expected to be tied to the rate of inflation in years three, four and five of the five-year deal.
But while world oil prices may not affect electricity prices, it will affect the regulated price of gas on the Island which will be adjusted.
Oil closed at nearly $98 a barrel in New York on February 25, down from $103.
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Drought, lack of rain means BC Hydro must adapt power generation
VANCOUVER - BC Hydro is adjusting its operating plans around power generation as extended heat and little forecast rain continue to impact the province, a report says.
“Unpredictable weather patterns related to climate change are expected to continue in the years ahead and BC Hydro is constantly adapting to these evolving conditions,” said the report, titled “Casting drought: How climate change is contributing to uncertain weather and how BC Hydro’s generation system is adapting.”
The study said there is no concern with BC Hydro being able to continue to deliver power through the drought because there is enough water at its larger…
