The Interim Electrical Rebate began in 1998. It offset electrical rate increases caused by the closure of the Faro mine. The mine closure reduced the demand for power in the territory.
Yukon residential electricity customers receive a rebate of up to $22.62 on their monthly electrical bills for the 1st 1,000 kilowatt hours (kWh) they use.
The Government of Yukon has provided up to $3.5 million per year to this fund through a funding agreement with Yukon Development Corporation.
The Interim Electrical Rebate was extended until March 31, 2023.