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Published on Mar 3, 2010
VICTORIA - BC Hydro is the government-owned company that keeps our lights on through hydro-electric power. But its says its dams power stations and transmission lines are getting old and need nearly $2 billion in major upgrades.
You are going to pay for it.
Wednesday, the company announced it's seeking permission to raise consumer rates by nine per cent.
Hydro says if it gets its way that amounts to 25 cents a day; a total of $84 a year on your energy bills.
The company won't say what it plans to do in the years after that, but documents presented in the BC budget lockup yesterday show the company is planning to raise rates every year for the next four years.
That means BC residential customers will be paying 33% more to keep the lights on and the washing machine churning.
It's up to the BC Utilities Commission to decide if a move to make your hydro much more expensive is 'power smart.'
And if it does, you'll start paying more on April first.