Yukon Energy seeks first retail rate increase in 13 years

subscribe

Yukon Energy Corporation has filed an application with the Yukon Utilities Board for its first retail rate increase since 1999.

The corporation has asked for a 6.4 percent increase for all customer classes residential, commercial, industrial and government in 2012 and an additional 6.5 percent raise in 2013. The increases would impact both Yukon Energy and Yukon Electrical customers.

"Over the last 13 years weÂ’ve done everything possible to keep electricity costs low. In fact we were even able to secure a 2.47 percent rate decrease for our customers when the Minto mine came on-line," Yukon Energy President David Morrison said. "However the cost of keeping aging infrastructure efficient, up-to-date and safe for Yukoners has increased faster than electricity rates, making our current path unsustainable."

Increased energy consumption in all sectors has strained Yukon Energy's power grid, and has depleted the corporation's surplus hydro. While Yukon Energy's new hydro assets Mayo B and the Aishihik third turbine have helped address this problem, expensive diesel generation is still needed to supply an increasing share of the new demand.

"Thirteen years is a long time to go without a rate increase," Morrison added. “The last time we raised rates, Gretzky was playing for the Rangers and gas was 60 cents a liter. Meanwhile, salaries have gone up and the cost of our materials keeps climbing."

"Given these factors, seeking rate increases is the responsible thing to do," said Morrison. "However even with higher rates there are many steps Yukoners can take to keep their bills affordable. We will work with customers to provide them with the tools and information they need to have more control over their electricity bills."

Related News

Ontario rolls out ultra-low electricity rates

Ontario rolls out ultra-low electricity rates

TORONTO - A million households can opt into a new ultra-low overnight electricity rate offered by the Ministry of Energy, but that's just a fraction of customers in Ontario.

Only eight of the 61 provincial power utilities will offer the new rate on the May 1 launch date. The rest have up to six months to get on board.

That means it will be available to 20 percent of the province's five million electricity customers, the Ministry of Energy confirmed to CBC News.

The Ford government's new overnight pricing was pitched as a money saver for Ontarians, undercutting its existing overnight rate from…

READ MORE
hydro power dam

Invest in Hydropower to Tackle Coronavirus and Climate Crisis Impacts

READ MORE

German Chancellor Olaf Scholz

Germany agrees 200 bln euro package to shield against surging energy prices

READ MORE

map of power grid

Military Is Ramping Up Preparation For Major U.S. Power Grid Hack

READ MORE

uk national grid

National Grid to lose Great Britain electricity role to independent operator

READ MORE