ATCO Electric Yukon gets approval for interim power rate hike
4.4 per cent increase in effect as of July 1
The Yukon Utilities Board has given its okay to a temporary power rate hike by ATCO Electric Yukon, effective July 1.
ATCO Electric applied to the board for approval to increase consumer rates by 4.4 per cent this year, and an additional 3.1 per cent in 2017.
The board has approved the initial 4.4 per cent hike, on an interim basis. A three-day public hearing on ATCO Electric's full application is scheduled for November.
The company has said it needs the rate hike for new projects and to replace old equipment. The company also said Yukon's economic slowdown has affected its bottom line.
ATCO Electric purchases electricity from Yukon Energy, and distributes it to 12 communities in the territory, including Whitehorse, as well as a variety of rural areas. It also generates some power with its hydro-electric and diesel plants.
With files from Vic Istchenko