FortisBC Inc.’s 2012/2013 annual revenue requirements for electricity customers was filed last week with the BC Utilities Commission (BCUC), along with the utility’s Integrated System Plan (ISP).
FortisBC is requesting an interim 4 per cent rate increase for electricity customers effective January 1, 2012 and a 6.9 per cent increase effective January 1, 2013.
For the average FortisBC residential electricity customer using 1,000 kWh per month, the increase for January 2012 would equal approximately $4.28 per month and $7.67 for per month in 2013, if the BCUC approves the application.
“FortisBC is committed to providing safe, reliable electricity at the lowest reasonable cost,” said John Walker, president and chief executive officer for FortisBC. “However, some increases are necessary to ensure we can continue to safely and reliably meet our customers’ future electricity needs. These include substation improvements and other system enhancements.”
This is the first time FortisBC has submitted an Integrated System Plan which includes the company’s Resource Plan, Long Term Capital Plan and Long Term Demand Side Management Plan. FortisBC’s 2012/2013 annual Revenue Requirements and 2012/2013 Capital Expenditure Plan are separate from the Integrated System Plan.
“The Integrated System Plan looks ahead 20 years to identify the energy and infrastructure needed to meet customers’ long-term energy needs. It also sets out a five year business plan to meet those needs,” said Walker.
The ISP application also includes FortisBC’s popular PowerSense programs, which provide incentives and rebates for customers interested in better managing their electricity use. Information about PowerSense programs can be found at fortisbc.com/Electricity/PowerSense.
Feedback from customers and stakeholders collected earlier this year during the consultation phase will be included with the Integrated System Plan application. The BCUC will review FortisBC’s application and decide on the regulatory process to follow. Public interested in learning more about the ISP, can visit fortisbc.com.
- Fortis press release