Some questions have been raised about our 2021 General Rate Application today. We just want to set the record straight:
1. We are seeking a 11.5% rate increase in 2021 for investments we've made between 2019 and 2021. This equates to a 3.8% increase per year between 2019 and 2021.
2. If approved by the Yukon Utilities Board, our proposed 2021 rate increase will have a nearly zero impact on electricity bills. The average residential bill will go up by about 70 cents a month; average commercial bills will go down by about $2 a month.
3. The 17.1% increase the Yukon Utilities Board refers to in their document on December 14, 2020 refers to our revenue requirement and how much that revenue needs to go up.
4. Rate design is complex. Rate increases and revenue requirements are not the same thing. As the number of electricity customers and load grows in Yukon, our revenue requirement is spread over a wider base, reducing the size of rate increase needed to earn that revenue.
Learn more about our 2021 General Rate Application here.
We'll also be hosting a public workshop about our 2021 General Rate Application on January 8, 2021 at 1 p.m. It'll be hosted online due to COVID-19 concerns. Email email@example.com to register.
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