As electricity demand rises, Yukon gov't mulls rate review, compensation

With demand for energy increasing, Yukon officials say they are looking for ways to reduce electricity rates.

Energy Minister John Streicker said topics of recent meetings between ATCO Yukon and the Yukon Chamber of Commerce have included setting lower rates, launching a rate review and providing compensation to ratepayers, pending negotiations with the public and stakeholders.

While nothing is definitive, he said changes are coming.

"The rates have not increased over the last couple of years," Streicker said. "I know that we've got the lowest electricity rates in the North, but I also know that right now, there's pressure on everybody, especially with the cost of fuel going up and then other things, as a result, so it's important that we watch the rates."

Last month, the territorial government announced it would provide a $150 rebate to ratepayers over three months to offset inflation. Streicker told reporterssignificant, long-term solutions are needed to ensure rates are affordable.

He said a well-heeled mining industry and more people moving to the Yukon is pushing ATCO's revenues higher.

"The growth in electricity is clear," he said.

Ratepayers deserve a fair shake: NDP

During question period this week, NDP House Leader Emily Tredger urged the government to order a rate review to adjust and redistribute company profits.

"When the government grants a monopoly on an essential service to a private company, it is the responsibility of that government to ensure the company provides quality services at a fair price," she said.

"Nowadays, many Yukoners don't feel that their electrical bills are just or reasonable."

NDP Leader Kate White told reporters the temporary $150 rebate is a band-aid solution to a systemic problem.

"It's great for people who have power bills, but it doesn't affect the rest of the population, so it doesn't include people who have rents where everything is included, it doesn't affect multi-member households," she said.

Streicker said a rate review or providing compensation to residents would first need to go through the Yukon Utilities Board, the body that's responsible for instituting wholesale changes to the energy sector.

"Probably not two of them, so we'll figure out which one is best and off we go," he said.

Work to bring down electricity prices is in the early stages, said Streicker, adding that, as a result, there isn't a firm timeframefor changes.