Newspaper article The Canadian Press

BC Hydro Deferral Accounts at $5.5 Billion, Says Rate Review by Auditor General

Newspaper article The Canadian Press

BC Hydro Deferral Accounts at $5.5 Billion, Says Rate Review by Auditor General

Article excerpt

BC Hydro deferral accounts at $5.5 billion

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VICTORIA - Auditor general Carol Bellringer says BC Hydro has deferred $5.5 billion in expenses that it plans to recover from ratepayers over time.

Bellringer focused on the deferred expenses in a report released Wednesday about the public utility's use of rate-regulated accounting to control the prices it charges customers.

The report found 29 BC Hydro deferral accounts, of which some will be paid off within two years while others could take 40 years to eliminate, she said.

Bellringer said rate-regulated accounting is used widely across North America, but she cautioned that Hydro has largely overridden the role of the independent B.C. Utilities Commission to regulate rates.

"We think it's important for the people of B. …

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