ATCO Electric Yukon gets approval for interim power rate hike

The Yukon Utilities Board has given its okay to a temporary power rate hike by ATCO Electric Yukon, effective July 1.

ATCOElectric applied to the board for approval to increase consumer rates by 4.4per cent this year, and an additional 3.1 per cent in 2017.

• ATCO Electric applies for rate increase, points to Yukon's economic slowdown

The board has approved the initial 4.4 per cent hike, on an interim basis. A three-day public hearingon ATCO Electric's full application isscheduled for November.

The company has said it needs the rate hike for new projects and to replace old equipment. The company also said Yukon's economic slowdownhas affected its bottom line.

ATCO Electricpurchases electricity from Yukon Energy, anddistributes it to 12 communities in the territory, including Whitehorse, as well as a variety of rural areas. It also generates some power with itshydro-electric and diesel plants.