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2001 Legislative Session: 5th Session, 36th Parliament

FIRST READING

The following electronic version is for informational

purposes only.

The printed version remains the official version.

MR. KASPER

BILL M 203 – 2001

VANCOUVER ISLAND ELECTRICAL RATE

STABILIZATION ACT

Preamble

Whereas electrical consumers on Vancouver Island will be faced with impending shortages of electrical energy;

Whereas BC Hydro is in the process of implementing options to meet the anticipated electrical demand;

Whereas the relative isolation of Vancouver Island makes these consumers more vulnerable to rate fluctuation due to projected and current capital and natural gas costs required for generating and transmitting electricity to this geographic area; and

Whereas the recent confirmation to this House that the net revenue projections for BC Hydro in the coming year are substantially lower than previously anticipated, thus, potentially forcing, BC Hydro to increase the cost of electrical energy to residents of Vancouver Island.

HER MAJESTY, by and with the consent of the Legislative Assembly of the Province of British Columbia, enacts as follows:

1 BC Hydro must not charge rates on Vancouver Island that are different than those rates charged consumers in other geographic areas serviced by BC Hydro in order to recoup the capital cost expended by BC Hydro to service electrical demand on Vancouver Island.

Commencement

2 This Act comes into force by regulations of the Lieutenant Governor in Council.

Explanatory Note

This Bill ensures Vancouver Island electrical consumer will not face increases in consumer electrical rates, over and above those paid by other BC Hydro consumers located in other geographic areas within British Columbia; now, and in the future.

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© 2001: Queen's Printer, Victoria, British Columbia, Canada