January 09, 2015 - 12:38 PM
PENTICTON - The cost of electrictiy in Penticton is going up by 4.4 per cent as of Feb. 1.
The 4.4 per cent rate hike works out to about $4.50 more a month for the average residential customer and is the result of a 4.55 per cent B.C. Hydro rate hike.
Pencticton city councillors decided how to pass along the rate increase at a special meeting held on Wednesday, Jan. 7. at which fewer than a dozen people showed up. Council debated three possible alternatives for the rate increase which it originally discussed at a Dec. 15, 2014 budget meeting.
The three options they looked at were a retail, wholesale or “blended” increase. Council voted in favour of the "blended" rate hike.
A rate increase at the retail power sale level would have meant a total increase of 5.11 per cent, while a hike at the wholesale power purchase level would have resulted in an increase of 3.7 per cent.
“The blended option keeps costs in line, while also being less of a burden on the consumer,” city communications manager Simone Blais says. She added the revenue derived from a blended rate also helps to fund city infrastructure.
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News from © InfoTel News Ltd, 2015