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Written by / Agency / Source: Hydro-Québec / IREQ

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Hydro-Québec Distribution Files 2012–2013 Rate Application - Hydro-Québec Distribution filed an application with the Régie de l’énergie today for a rate adjustment of 1.7% effective April 1, 2012 - HydroQuebec.com
Hydro-Québec Distribution Files 2012–2013 Rate Application

 

NewswireToday - /newswire/ - Varennes, Québec, Canada, 2011/08/01 - Hydro-Québec Distribution filed an application with the Régie de l’énergie today for a rate adjustment of 1.7% effective April 1, 2012 - HydroQuebec.com.

   
 
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The rate adjustment is requested mainly because of changes to accounting methods stemming from the adoption of the International Financial Reporting Standards by the Canadian Accounting Standards Board with which Hydro-Québec must comply as of 2012. This portion of the 2012–2013 rate adjustment is 1.1%. The accounting changes, which will lead to future savings in Hydro-Québec’s financing costs, will benefit Hydro-Québec customers over the long-term. For instance, the accounting changes affect some expenses related to the Energy Efficiency Plan.

The portion of the requested rate adjustment unrelated to accounting methods is 0.6%. It reflects the increase in supply costs related to new purchases of wind energy in 2012, as well as an increase in operating expenses, compared to the level approved by the Régie in 2011, which will be limited to 0.3% in 2012.

If the rate application is approved, the increase in the monthly bill will amount to $0.82 for an average apartment, $2.11 for a small house, $3.01 for an average house and $3.89 for a larger house. Quebecers will continue to enjoy some of the lowest electricity rates in North America.

The Régie will hold hearings on the rate application within the next few months. By law, the Régie sets Québec electricity rates.

Energy efficiency
Hydro-Québec Distribution’s proposed budget for energy efficiency programs and activities is $233 million. The money will be used to save 696 GWh of energy in 2012 and to develop new initiatives with a view to achieving cumulative energy savings of 11 TWh by 2015.

Support for low-income customers
Hydro-Québec Distribution is continuing its programs for low-income customers. It proposes a budget of $11.5 million, chiefly to help customers who benefit from personalized arrangements to pay their electricity bills and clear their arrears.

Hydro-Québec Distribution (hydroquebec.com) also plans to invest over $13 million in energy efficiency measures for these customers.

 
 
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Written by / Agency / Source: Hydro-Québec / IREQ

 
 

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Hydro-Québec Distribution Files 2012–2013 Rate Application

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