Power "variance accounts," which electricity customers have been paying a three per cent surcharge on every power bill to try to retire, has instead grown by $118.7 million since those payments began two years ago. He told the EUB that power customers are in danger of facing "permanent" surcharges on their bills the way balances in the variance account keep growing. Power to pay hundreds of millions of dollars for replacement energy in 2022, 2023, 2024 and 2025 are being paid for by surcharges on power customer bills over time. Under current legislation, the maximum amount power customers can be charged to retire balances in the variance account cannot exceed three per cent of the utility's in-province revenues. Balances in the variance accounts are calculated as of the end of October every year.

Source: CBC News February 27, 2026 06:40 UTC