In April 2022, Yukon Energy and THELP filed an amended Electricity Purchase Agreement with the Yukon Utilities Board (YUB). The Government of Yukon directed this review and established the Terms of Reference.
On October 18, 2022, the Yukon Utilities Board issued a Report to the Yukon Minister of Justice with their findings and recommendations.
In its Report, the YUB:
- accepted that the EPA is necessary at this time;
- agreed that there is a near-term need for the EPA based on electricity demand;
- questioned the 50% CPI price escalation in the EPA;
- questioned the impacts the EPA would have on ratepayers;
- questioned the decision not to proceed with the permanent 20 MW thermal plant;
- acknowledged that the EPA will not hinder existing and future generation and transmission facilities;
- acknowledged that the EPA will replace the need for some of YEC’s rental diesel generators; and
- found the risks associated with the EPA to be, on average, medium.