BC residents should brace for another BC Hydro rate increase this year.
Starting April 1st, customers will see an increase of 1.8% to their bills. This works out to be about $1.63/month for residential customers.
- BC Hydro rates to increase by 3% in 2018
The increase was approved by the B.C. Utilities Commission, and residents of the province can expect to pay over 8% more on their Hydro bills over the next five years.
These price hikes were announced after a new report commissioned by the NDP found that BC’s previous Liberal government forced BC Hydro to sign contracts with independent power producers (IPPs) that will cost customers $16 billion over the next two decades.
The report “details how the previous government manufactured an urgent need for power while disallowing BC Hydro to produce it, therefore requiring the public utility to buy power from private producers at inflated prices,” says the ministry.