A request for a rate reduction has been submitted by BC Hydro.
Based on its revenue requirement’s application that was filed in February, the crown corporation requested a net bill increase of 0.7 percent, however, said in an update Friday, they are requesting a net bill decrease of nearly one percent.
If the BCUC green-lights the request, the updated rate would start on April 1, 2020, and reduce the average residential bill by $16.
If approved, the net bill impacts of the new rates forecast will be:
April 2020: decrease of 1%
April 2021: increase of 2.7%
April 2022: decrease of 0.3%
April 2023: increase of 3%
“For the past two years, our government has been focused on making sure BC Hydro works for people again,” said Michelle Mungall, Minister of Energy, Mines and Petroleum Resources.
“I am thrilled that BC Hydro is now able to apply for a rate reduction for the first time in decades. If approved by our independent regulator, lower rates would make life better and more affordable for British Columbians.”
(with Files from Brendan Pawliw with MyPrinceGeorgeNow)