The planned BC Hydro rate increases over the next few years won't be as high as expected, according to the province’s Energy Minister.
When the increases were first announced earlier this year, BC Hydro had said rates could soar by 10 per cent in each of the next three years. The company has embarked on a $6-billion plan to upgrade its dams and other facilities and meet the growing demand for electricity.
But Rich Coleman said Thursday in a press release he's met with Hydro officials and there are ways to limit the rate increase, including reviewing the way Hydro measures its water supply and long-term financial liability.
Coleman decided to review the Hydro rate hike plan after being appointed the province's Energy minister last week by new Premier Christy Clark during a cabinet shuffle.