Electricity bills in British Columbia will be slashed by an average of 1.4% next month but still climb in subsequent years, according to BC Hydro.
The decrease rolls out on April 1st, following the interim, first-year approval of a three-year rate change application to the BC Utilities Commission.
If fully approved, it would “mark a period of the lowest rate increases in BC over the past 15 years,” BC Hydro said Thursday.
Come April 2023, the Crown corporation has requested an average bill increase of 2%, and by April 2024, it’s aiming for an average jump of 2.7%.
BC Hydro’s September 2021 three-year rate application:
- April 1st, 2022: decrease of 1.4%
- April 1st, 2023: increase of 2%
- April 1st, 2024: increase of 2.7%
In a statement, Energy Minister Bruce Ralston said affordability is BC’s top priority, as government officials work with BC Hydro to keep electricity rates competitive.
“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,” said Ralston.
BC Hydro expects a complete decision on its application in the coming months.
