BC Hydro files 3-year rate application to keep rates affordable
VANCOUVER: BC Hydro has filed its Fiscal 2023-2025 Revenue Requirements Application with the BC Utilities Commission, requesting an annual average bill increase of 1.1 per cent for the next three years.
BC Hydro is committed to keeping rates as affordable as possible for customers and to making the investments required to provide reliable electricity service. As a result, it is requesting a bill decrease of 1.4 per cent starting April 1, 2022. This is the second time in the past three years BC Hydro will decrease bills for its customers – bills were decreased by 1.62 per cent in Fiscal 2021.
If approved by the BC Utilities Commission, residential customers will see a decrease of about $23 on average in the first year. Commercial customers’ annual electricity costs will be reduced by $974 on average and industrial customers by $325,205 on average.
In the following two years, BC Hydro is requesting bill increases of 2 and 2.7 per cent.
BC Hydro’s rates remain among the lowest in North America. On average, BC Hydro residential customers pay two thirds less than what customers in San Francisco pay, which has the highest rates in North America.
Adjusting for inflation, electricity in B.C. costs the same today as it did back in 1978. In fact, the average family pays more than twice as much for their TV, internet and phone services than they do for their electricity.
BC Hydro Media Relations:
p. 604 928 6468