An interim approval was given to B.C. Hydro to electricity bills by an average of 1.4 per cent as of April 1.
In a B.C. Hydro news release, B.C. Hydro The decrease comes as part of a three-year application that would mark a period of the “lowest rate increases in B.C. over the past 15 years.”
On April 1, the application would decrease the rate by 1.4 percent, then climb by 2% and 2.7 percent on April 1, 2023 and 2024, respectively. Over the three-year period, the rate changes would result in an average rise of 1.1 percent.
“Affordability is our government’s top priority, and we continue to work with B.C. Hydro to keep electricity rates competitive and affordable for British Columbians,” said Energy Minister Bruce Ralston.
“In the B.C. 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.”
Only the rate decrease for 2022 has received interim approval so far, while decisions on the 2023 and 2024 increases are still up for discussion.
“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 B.C. Hydro president Chris O’Riley.
“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.”
