Gra update: final decision on rates by the public utilities board (March 31, 2023)
On March 31, 2023, the NWT Public Utilities Board issued its final decision on NTPC's 2022-23 General Rate Application. New rates based on this decision will come into effect on May 1, 2023.
Follow this link to read the final decision.
GRA Update: Submission of Compliance Filing to Public Utilities Board (February 17, 2023)
Summary
As part of it’s General Rate Application (GRA), NTPC was required to submit a Compliance Filing to the NWT Public Utilities Board (PUB) incorporating eight directives which the PUB had previously issued. The Compliance Filing, which was submitted to the PUB on Friday, February 17, 2023, includes new proposed rates that have been developed after implementing the PUB directives.
The PUB will review and approve NTPCs compliance filing before any rate increases come into effect.
Background
On January 18, 2023, the PUB issued its decision on NTPC’s General Rate Application (GRA). The PUB Decision included eight directives to NTPC that needed to be incorporated into a Compliance Filing.
Based on implementation of those directives, NTPC was required to propose new rates for all rate zones. The filing was submitted to the PUB on February 17, 2023.
Among the directives provided to NTPC were the following:
- Removal of the Behchoko EV Charging Station from rates
- Removal of 50% of NTPC’s Pole Replacement Program
- Removal of costs & insurance proceeds from the Snare Forks Unit 1 overhaul
- Revised depreciation & revised interest expense on capital leases
- Revised capitalization on Human Resource salaries
- The cost savings from wind generation in Inuvik are to solely be applied to the Thermal Zone
As a result of these requirements, the rates included in the original GRA have been adjusted. After implementing the PUB directives, NTPC’s compliance filing proposes the following rate increases to ensure NTPC receives the revenue required to deliver electricity to its customers:
NTPC has also filed an application for a revenue shortfall rider to recover revenue owed for power used by customers in 2022-23 that did not have the PUB approved rates applied. The shortfall rider will provide NTPC with revenue it has already earned but which has not been collected from customers. However, there will be a lag between when the rates have received PUB approval and when customers utilized the power. The rider will allow NTPC to collect approximately $1M owing from customers for the 2022-23 fiscal year. The rider will be in place for 12 months.
The PUB will have to review and approve NTPCs compliance filing before any rate increases come into effect. Information about the process as well as all documentation related to the GRA can be found on the PUB website.