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Governments To Saddle B.C. Hydro Customers With $4-Billion Debt

OilPrice.com Thursday, 7 February 2019 ()
B.C. Hydro has accumulated a US$4.2-billion (C$5.5 billion) pile of so-called deferral accounts as a result of political pressure from provincial governments to keep rates lower than they need to be so the company could cover its operating expenses, the Globe and Mail reports citing Auditor-General Carol Bellringer. “BC Hydro was not allowed to charge its customers enough to cover its operating costs each year,” the official said. As a consequence, now every household customer of the utility represents some US$980 (C$1,300) of the total…
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