Why Now?

Today's question: Why did you wait so long to ask for a rate increase? Wouldn’t it have been better to ask for smaller rate increases over an extended period of time?

Good question! Before we came forward with a request for a rate increase, we wanted to do everything we could to make our operations as efficient as possible.

We saved a significant amount of money by refinancing our debt twice over the past 10 years. We also worked hard to secure partners, such as the Yukon and federal governments, who made substantial financial contributions to several major projects we developed. That made the projects affordable for electricity customers in the territory.

Because of these projects, we’ve been able to reduce our diesel use, saving Yukoners millions of dollars, increasing our generation potential and decreasing greenhouse gas emissions by tens of thousands of tonnes per year.

However we've run out of other options for saving money, and so have gone forward with a proposed rate increase. We believe this is the responsible thing to do at this stage to ensure we can continue to provide a secure, sustainable electricity future for Yukoners.