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BC Hydro not charging enough to cover costs

B.C.’s Auditor General says when it comes to paying BC Hydro’s debt, commercial customers are paying too much and residential customers are not paying enough.

However, Carol Bellringer won’t say what residential customers should be paying.

She said that’s up to the B.C. Utilities Commission to determine.

“While BC Hydro is recovering some of the 5 point 5 billion dollars in deferred costs through its current rates it continues to defer other costs. As of March 31st, 2018 just over 2 billion dollars of deferred costs were not being recovered in the current rates.”

Bellringer has released her latest report on rate regulation with regards to BC Hydro and says the utility has not used rate-regulated accounting correctly and needs to recover 5 point 5 billion dollars.

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She said the problem is the result of too much government intervention in the rate regulation process.

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