Rates hike bid called the ‘responsible thing to do’
The Yukon Energy Corp. (YEC) is seeking its first retail rate increase since 1999.
The Yukon Energy Corp. (YEC) is seeking its first retail rate increase since 1999.
The corporation has filed an application with the Yukon Utilities Board a 6.4 per cent increase for all customer classes (residential, commercial, industrial and government) in 2012 and an additional 6.5 per cent raise in 2013.
The increases would impact both Yukon Energy and Yukon Electrical Co. Ltd. customers.
“Over the last 13 years, we’ve done everything possible to keep electricity costs low,” said YEC president David Morrison.
“In fact, we were even able to secure a 2.47 per cent rate decrease for our customers when the Minto mine came on-line.
“However, the cost of keeping aging infrastructure efficient, up-to-date and safe for Yukoners has increased faster than electricity rates, making our current path unsustainable.”
Higher energy consumption in all sectors has strained Yukon Energy’s power grid, and has depleted the corporation’s surplus hydro, the corporation said.
While Yukon Energy’s new hydro assets (Mayo B and the Aishihik third turbine) have helped address this problem, expensive diesel generation is still needed to supply a rising share of the new demand.
“Thirteen years is a long time to go without a rate increase,” Morrison added.
“The last time we raised rates, (hockey legend Wayne) Gretzky was playing for the (New York) Rangers and gas was 60 cents a litre. Meanwhile, salaries have gone up and the cost of our materials keeps climbing.
“Given these factors, seeking rate increases is the responsible thing to do.”
Even with higher rates, he added, there are many steps Yukoners can take to keep their bills affordable.
“We will work with customers to provide them with the tools and information they need to have more control over their electricity bills.”

Thomas Brewer
Apr 30, 2012 at 9:43 pm
Rates are still amongst the highest in Canada… and as for the “no increases” line… lets factor in the “rate adjustment riders”.
Not acceptable.