Starting April 1, electricity bills for BC Hydro customers will be reduced by an average of 1.4 per cent, following interim approval by the BC Utilities Commission.
The rate decrease is part of a three-year rate application that, if approved, marks a period of the lowest rate increases in B.C. over the past 15 years, says BC Hydro.
“Affordability is our government’s top priority, and we continue to work with BC Hydro to keep electricity rates competitive and affordable for British Columbians,” said Bruce Ralston, Minister of Energy, Mines and Low Carbon Innovation. “In the BC Hydro Review, we identified several recommendations to ensure British Columbians have access to tools to help keep their bills low, and we’re actively implementing those recommendations.”
The Commission has granted interim approval for the rate change for the first year. A decision on the application is expected in the coming months.
BC Hydro applied to the Commission for the rate change last September as part of a three-year revenue requirements application. BC Hydro requested an annual average bill increase of 1.1 per cent over the three-year period.
- April 1, 2022: decrease of 1.4 per cent
- April 1, 2023: increase of two per cent
- April 1, 2024: increase of 2.7 per cent
“We’re proud of our legacy in B.C. of delivering clean, reliable power safely while maintaining some of the lowest rates in North America,” said Chris O’Riley, President & CEO, BC Hydro. “We have the third lowest rates on the continent and are committed to keeping rates affordable as move forward in encouraging British Columbians to switch to clean hydroelectricity from fossil fuels to reduce carbon emissions in our province.”
