If you’re wondering what the “rate rider” is on your utility bill, you’re not alone.
In response to a recent article on the city’s electricity rates, the Disk received an email from a local resident asking about the rate rider on City of New Westminster utility bills.
We put his question to Harji Varn, the city’s director of finance. Here’s what she had to say:
What is the rate addendum?
The city charges the 2.5% rate rider to meet its financial needs and obligations by maintaining its electrical reserves at an appropriate level of its asset value and to mitigate risk and uncertainty related to the unexpected inflation or infrastructure losses.
Definition of the tariff rider: “Raising funds to meet financial requirements and obligations by maintaining its electrical reserves at an appropriate level of its asset value and to mitigate the risks and uncertainties associated with unforeseen inflation or losses of infrastructure. »
Has the amount of the tariff rider changed in recent years?
The current rate rider is 2.5% and has been the same since 2020. Prior to 2020, the rate rider was 5%, until the city council declared a climate emergency and passed the Seven Bold Steps for climate action. Staff have been asked to reduce the rate rider to support the new climate tax.
What is the climate action tax quoted on utility bills?
In response to the council’s climate emergency declaration in 2019, the city has committed to implementing the Seven Bold Steps to Climate Action and is directing funds to accelerate public projects towards energy efficiency and reduction. GHG emissions with the aim of moving New Westminster towards a zero carbon future by 2050.
The Climate Action Levy helps fund carbon reduction projects and initiatives that align with city environmental strategies and goals.
Funds from the Climate Action Tax were allocated to civic projects for the implementation of the city’s 2020 Corporate Energy and Emissions Reduction Strategy (CEERS). Through similar initiatives focused on climate and resilience, the city aims to accelerate strategies, including electrification, so that more community members can switch to using low-carbon vehicles and a future without fossil fuels.
Additionally, the city is updating the Community Energy and Emissions Plan (CEEP) to meet our GHG emissions goals through programs and policies designed specifically to improve the energy efficiency of residences and businesses in New Westminster.
You can find more information about our current strategies on other Be heard pages.
Do you have a specific town hall question that you would like answered? Record city reporter Theresa McManus will do her best to provide you with an answer. Send your questions to [email protected]