Photo: archive photo

Nelson Hydro will pay it forward when it comes to city electricity rates next year.

The city-owned utility received City Council’s third seal of approval – with adoption pending – on a bylaw to adjust the Hydroelectric Services (Urban Rates) Bylaw by 5 percent, effective January 1, 2025.

The 5 per cent annual general rate increase is largely attributable to the 5.3 per cent general rate increase requested by Nelson Hydro’s electricity supplier, FortisBC, which is also targeting an entry date effective January 1, 2025.

“Beyond that, the utility’s capital renewal plans also add some pressure on rates,” Hydro CEO Scott Spencer said in his Nov. 8 report to council. the increase in rates.

The 5% increase in urban rates is necessary to ensure that the utility’s capital reserves – which are funded solely by urban rates – remain within the target zone (between $4 million and $9 million) over the next few years , Spencer explained.

“Additionally, with a 5 per cent rate increase, urban rates will remain competitive with those of FortisBC and BC Hydro,” he added.

Photo: Contributed

Open opportunity

In late November or early December, Nelson Hydro will hold its annual open day for all ratepayers.

“Nelson Hydro staff will be available to discuss relevant topics including the general annual rate increase and the reasons for the proposed increase,” Spencer said. “Those who attend will have the opportunity to ask questions and discuss any staff concerns.”

Once the rate increase is passed by council – and before January 1, 2025 – the general rate increase will be announced in the media, on the City and Nelson Hydro Facebook and Instagram pages, as well as on the city’s website.