BC Hydro rate hike will be costly for district
BC Hydro rates are going up, and that will impact more than just local residents.
The Richmond School District anticipates that the increase will result in an additional cost of $30,000 for the period of April to June of 2014, and for the next fiscal year, an impact of between $120,000 to $150,000.
Though that figure might sound like a lot, things could have been a whole lot worse, according to minutes from the December meeting of the Richmond Board of Education.
Secretary treasurer Mark De Mello noted that the “district had invested time, effort and money over the past 8-10 years in various energy initiatives and advised that this is the reason why the hydro cost increases are not as dramatic as they could have been.”
In November, B.C. Energy Minister Bill Bennett and BC Hydro CEO Charles Reid announced a 28-per-cent electricity rate hike over five years, including a nine-per-cent increase starting this April.