Province to launch phase two of BC Hydro review
The provincial government is launching the second phase of its BC Hydro review.
The second phase will focus on CleanBC electrification targets, new technologies, new roles for Indigenous Nations and examining future market opportunities.
It will also focus on the following:
- BC Hydro’s role in supporting CleanBC and meeting BC’s legislated 2030, 2040, and 2050 greenhouse gas reduction targets
- future opportunities or new roles for First Nations and for communities in the energy sector
- integrating new technologies and electricity market trends into BC Hydro’s structure, services and assets while keeping rates affordable
- new opportunities for BC Hydro to expand its business markets outside BC for the benefit of ratepayers.
The Ministry of Energy, Mines and Petroleum Resources will work with energy industry experts, BC Hydro and the Ministry of Environment and Climate Change Strategy to produce an interim report before the end of this year.
Indigenous communities and organizations, and stakeholders will have an opportunity to give feedback on the interim report.
Results of phase one of the review were announced in February. They include a new rate forecast which will limit bill increase to 1.8% this year and 0.7% in 2020, as well as regulatory and legislative changes to enhance the BC Utilities Commission’s power to make decisions on rate increases, deferral accounts and capital projects.
The province says a final report and recommendations will be completed in early 2020.