Before the last election, Premier Clark justified BC Hydro rate increases as a “common sense decision” that would enable the private/public utility to pay off the billions in its deferred accounts.
“People are struggling, it’s a tough economy, and hydro rates are just one other burden that government puts on people in terms of cost. We’re finding a way to pay down the deferral accounts,” she told reporters May 23, 2012.
When she spoke, Hydro’s most recent annual report showed net deferrals were $2.1 billion.
As of December 2015, the total was $5.6 billion.
In addition, BC Hydro direct debt had risen more than 50% from $11.6 billion to $18.2 billion and is expected to rise by at least another $12 billion in the next five years.
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Categories: BC Hydro