BC Hydro rates increasing by about $2 per month for residential customers
BC Hydro is committed to keeping rates affordable for its customers. Beginning April 1, the residential electricity rate for BC Hydro customers will increase by 2 per cent, or about $2 per month on average, following interim approval by the BC Utilities Commission (BCUC).
The rate increase is part of a three-year rate application that, if approved by the BCUC, marks a period of the lowest rate increases in B.C. over the past 15 years.
Last year, BC Hydro reduced residential rates by 1.4 per cent, and in 2024, BC Hydro expects to increase rates by 2.7 per cent. Over the three-year period, it works out to an average rate increase of 1.1 per cent per year. This is below forecast inflation in B.C. over this period.
The adjustment will keep rates among the lowest in North America while supporting important electrification and reliability investments, cybersecurity, vegetation management and new projects coming into service that will ensure BC Hydro can continue to deliver safe, reliable, clean electricity to its customers, increasing electrification and decreasing B.C.'s dependence on fossil fuels.
BC Hydro encourages customers to reach out to us to come up with a plan if they are having trouble paying their BC Hydro bill. BC Hydro offers grants up to $600 through its Customer Crisis Fund for those in temporary financial crisis, as well as equal payment plans and flexible payment plans that allow a customer to defer a payment or pay the overdue amount over time. The flexible payment plan is interest free.
For more information on BC Hydro's rates, visit bchydro.com/rates.
Contact:
BC Hydro Media Relations
e. media@bchydro.com
p. 604 928 6468