Yesterday the Public
Utilities Board released their decision on the Corporation's application
for a new schedule of interim refundable rates that are to come into
effect on July 1st.
Judith Goucher,
Director Finance & Chief Financial Officer, said that this was an
important decision for both customers and the Corporation.
'We filed this application
at the same time as we filed our General Rate Application' said Goucher
'and we were pleased that in making its decision the PUB agreed with
our rationale.' In its decision the PUB stated 'that it is appropriate
that tomorrow's customers should not be unduly burdened with costs related
to electrical usage today.' The applying of interim refundable rates
now means that part of the actual cost of the service will be paid at
the time of delivery rather than being deferred until new rates are
approved through the GRA process.
While the decision
of the PUB will mean that the Corporation is able to recover these escalating
costs, customers who purchase less than 700 kWh per month will be cushioned
from the increase through the Territorial Power Subsidy Program. 'Over
the summer months most of our customers use less than the 700 kWhs subsidized
under the Territorial Power Subsidy Program. As a result customers in
Yellowknife and in other NWT communities we serve will likely see increases
of about $10 per month' said Goucher.
The last GRA filed
by the Corporation with the Public Utilities Board was back in 1996
and since that time a lot of changes have occurred. Not only has the
cost of diesel increased by over 60% over this period, but the impact
of inflation on such things as supplies and services and salaries and
wages has also increased significantly over the last four years.
'When winter arrives
the impact of the increased rates will be more apparent and our staff
will be working with customers and the Arctic Energy Alliance over the
next few months to find ways to help customers become more energy efficient.
For customers, keeping power consumption down is becoming increasingly
important as our operating costs continue to climb' said Goucher. 'At
the same time the Corporation will continue to work hard to reduce the
cost of generating and distributing electricity to our customers.'
For more information
please contact:
Judith
Goucher
Director, Finance & CFO
(867) 874-5234
or
Peter
Watt
Public Relations Officer
(867) 874-5215
