Electricity monopoly BC Hydro is set to lose $1billion…
Currently BC Hydro generates hydro electricity for about two cents/kw. Private electricity costs up to 19 cents/kw. BC Hydro is bound to purchase all private power at rates beneficial to the private operator — forever — and B.C. electricity users pay the subsidy.
Typically, higher volume consumption results in a discount. In BC Hydro’s case a premium is charged, and the premium goes to finance the impacts of the Climate Action Plan and the Clean Air Act. Coming soon we can expect “time of use” premiums charged for electricity use during peak use times.
Penticton Western News