Hydro wants higher rates

  • Jun. 26, 2006 5:00 p.m.

BC Hydro has applied to the BC Utilities Commission for a rate increase, saying it needs more money to upgrade its generating capacity and purchase additional power.
The growing economy means BC Hydro customers are demanding more electricity, the company says.
It wants to hike rates by 4.65-percent this year (from April 2006 to March 2007) and by 2.71-percent next year.
The BC Utilities Commission this week approved an interim increase of 4.65-percent to take effect July 1.