Orders

ORDER NUMBER

G-177-24

IN THE MATTER OF

the Utilities Commission Act, RSBC 1996, Chapter 473

and

British Columbia Hydro and Power Authority

Establishment of the Regulatory Fees Regulatory Account and the Insurance Costs Regulatory Account and Expansion of the Storm Restoration Costs Regulatory Account

BEFORE:

E. B. Lockhart, Commissioner

on June 28, 2024

ORDER

WHEREAS:

A.      On June 12, 2024, British Columbia Hydro and Power Authority (BC Hydro) filed an application with the British Columbia Utilities Commission (BCUC) seeking approval, pursuant to sections 59 to 61 of the Utilities Commission Act (UCA), to establish a new Regulatory Fees Regulatory Account, a new Insurance Costs Regulatory Account, and to expand the scope of the existing Storm Restoration Costs Regulatory Account to include routine trouble costs (Application);

B.      For the new Regulatory Fees Regulatory Account and new Insurance Costs Regulatory Account, BC Hydro is proposing to:

                                 i.            Defer, on an annual and ongoing basis, any variances between plan and actual regulatory fees and any variances between plan and actual insurance costs, respectively, effective starting in fiscal 2024;

                               ii.            Apply interest to the balance of the account each year based on BC Hydro’s current weighted average cost of debt, effective starting in fiscal 2024;

                             iii.            Recover from the account each year, on an ongoing basis, the forecast interest charged to the account each year, effective starting in fiscal 2026; and

                             iv.            Recover the forecast account balance at the end of a test period over the following test period, effective starting in fiscal 2026.

C.      By Order G-16-09, the BCUC approved the establishment of a Storm Restoration Costs Regulatory Account to defer, on an ongoing basis, the difference between actual storm-related restoration costs and the average of the actual costs for the five most recent normal weather years; and

D.      The BCUC has commenced review of the Application and considers that establishing a regulatory timetable is warranted.

NOW THEREFORE the BCUC orders as follows:

1.       The regulatory timetable for the review of the Application is established as set out in Appendix A to this order.

2.       On or before Thursday, July 4, 2024, BC Hydro is directed to provide:

a.       electronically where possible, a copy of the Application, this order and a link to the proceeding webpage to registered interveners in the BC Hydro Fiscal 2023 to 2025 Revenue Requirements proceeding;

b.       notice of the Application and this order on its existing social media platforms; and

c.       notice of the Application and this order on BC Hydro’s website at https://bchydro.com/.

3.       BC Hydro is directed to provide to the BCUC by Wednesday, July 10, 2024, written confirmation of compliance with the notice requirements in Directive 2 of this order, including a list of social media platforms on which notice of the Application was posted.

4.       Persons who wish to file a letter of comment in this proceeding may do so by completing a Letter of Comment Form by Wednesday, August 21, 2024.

DATED at the City of Vancouver, in the Province of British Columbia, this          28^th          day of June 2024.

BY ORDER

Original signed by:

E. B. Lockhart 

Commissioner

Attachment

British Columbia Hydro and Power Authority

Establishment of the Regulatory Fees Regulatory Account and the Insurance Costs Regulatory Account and Expansion of the Storm Restoration Costs Regulatory Account