The Yukon Utilities Board has sent ATCO Electric Yukon back to fine-tune its figures after refusing to approve some aspects of the company’s application for new rates.

In a report on the application from last month, the board stated, “The board has determined that not all of the forecast revenue requirements for the 2023-2024 test period are reasonable and has consequently adjusted or denied specific components of the revenue requirement.

“Because the revenue requirement is not approved in full, ATCO Energy Yukon shall submit a compliance filing with respect to its 2023-2024 GRA within 30 days of the issuance of this Board Order.”

The board, however, did approve an interim rate rider increase for retail and industrial firm rates retroactive to Jan. 1, 2024.

“On July 7, 2023, ATCO Electric Yukon filed an application with the Yukon Utilities Board (Board), pursuant to the Public Utilities Act (PUA) and Order-in-Council, for approval of its forecast revenue requirements of $60.992 million for 2023 and $68.096 million for 2024.”

No one at ATCO responded today to efforts by The Yukon Star to contact them.

There were several intervenors as well, including the Yukon NDP, which also didn’t respond to the Star by this afternoon’s deadline.

The Utilities Consumer Group (UCG) also made comments during the hearing.

“The UCG submitted that AEY should have included data from 2022 in its forecast as the pandemic was waning, and construction and new growth continued at a normal rate. In response to AEY’s assertion that they did not have exact data on the profile contributing to changes, the UCG stated that 2022 actuals are even more important  to compare to 2023 sales,” the UCG said.

The UCG recommended that the board order AEY to increase its sales/revenue forecast by five per cent to consider growth patterns and the increase in electrification revenues.

The UCG also suggested that ATCO Energy Yukon failed during questioning, to identify any efficiencies it has achieved in order to maintain costs, and recommended that the board decrease AEY’s O&M costs by five per cent “to give AEY an incentive to establish efficiencies  going forward.”

The board report was dated May 31, meaning ATCO has until the end of June to respond.