On November 24, 2019, our regulator, the Yukon Utilities Board approved a 4.7 per cent permanent increase to electricity bills, effective December 1, 2019. The decision follow a 29-month review of Yukon Energy’s 2017/2018 General Rate Application and a 4.6 per cent interim increase to bills on September 1, 2017.
The 4.7 per cent permanent increase will add:
Yukon's continuing demand for sustainable and reliable electricity comes at a cost. To ensure we have it, Yukon Energy invests millions of dollars each year to build, operate and maintain our electricity supply and transmission assets. The increase to electricity bills was needed to pay for:
Despite the permanent increase, Yukon's residential electricity bills are still the lowest in the North and competitive with other jurisdictions in Canada and the United States.
All increases to electricity bills are carefully reviewed and scrutinized by the Yukon Utilities Board. Rate applications usually take about a year to complete. Our 2017/2018 General Rate Application took 29 months from start to finish. Unfortunately, this means a delay in collecting revenue from 2017, 2018 and 11 months of 2019. We now have to collect this money at the same time that we collect revenue that we need to operate today. To do this, electricity bills will increase by an additional 7.1 per cent between December 1, 2019 and November 30, 2021.
The 7.1 per cent temporary increase will add an additional:
We know that even a small rate increase is a hardship for some people. The best way for Yukoners to reduce their electricity bill is to reduce the amount of electricity they use. Fortunately, using less electricity can be as easy as:
A plain language summary is available below with more details about how the increases will appear on customer bills.
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