Statement

BC Hydro statement on one per cent rate reduction

Starting April 1, 2020, BC Hydro rates will be reduced by one per cent, following interim approval by the BC Utilities Commission (BCUC).

As a result of BC Hydro's audited Fiscal 2019 results and financial forecast, BC Hydro submitted a request for a rate reduction of around one per cent in an update to its Fiscals 2020 to 2021 Revenue Requirements Application with the BCUC in August 2019.

The updated rate will reduce the average residential customer's annual electricity costs by up to $16, commercial customers' annual electricity costs will be reduced by up to $715 and industrial customers by up to $230,000.

Over the next three years, the forecast net bill impacts are estimated to be:

  • April 2021: increase of 2.7 per cent
  • April 2022: decrease of 0.3 per cent
  • April 2023: increase of 3 per cent

For more information on BC Hydro’s rates, visit bchydro.com/rates.

 

Contact:
BC Hydro Media Relations
p. 604 928 6468