Homeowners, small businesses and industrial users are facing a staggering 26.4-per-cent electricity rate increase from 2014 to 2016, according to a confidential BC Hydro document. B.C. Energy Minister Bill Bennett said Tuesday the coming hike will not be that high. However, in an interview, he said he could not put a number to it.
According to a Rates Working Group document dated Aug. 23, 2013 obtained by The Vancouver Sun, the electricity rate increase is necessary to pay for Hydro's costs, which are estimated to rise to $4.8 billion in 2016 from $3.8 billion in 2014.