In June, Yukon Energy filed an application with the Yukon Utilities Board (YUB) for a nine percent increase over two years (2017 and 2018). We haven't had a rate change since 2013, meaning this increase would equate to 1.75 percent a year between 2014 and 2018.
In keeping with past regulatory practice, we applied for an interim rate for power consumed after September 1st of this year. After seeking comments from interveners, the YUB awarded a rate increase of 5.5 percent effective today. For an average residential customer consuming 1,000 kilowatt hours per month, this change will add $7.50 to monthly power bills.
The interim rate will be in place until the YUB makes a final ruling on our general rate application. We expect to have that decision by next spring.
When the process is complete and the final rate increase is determined, the YUB will calculate the difference between the awarded rates and the interim rates and will direct us to collect from, or refund to, ratepayers as necessary.
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