BC Hydro says customers can anticipate lower electricity bills starting April 1.
In a news release, the utility provider said that customers will see an average 1.4 per cent reduction on their electricity bills following an interim approval of rates from the BC Utilities Commission.
BC Hydro explained the rate decreases is part of a three-year rate application, which they say marks a period of the “lowest rate increases in B.C. over the past 15 years.”
If the rate change is granted approval by the BC Utilities Comission, rate increases are expected over the next two years.An average increase of two per cent is expected on April 1, 2023 and an increase of 2.7 per cent is expected in 2024. Still, the rate changes are below typical increases.
BC Hydro president and CEO, Chris O’Riley said the company offers some of the lowest rates in North America and highlighted Hydro’s track record as a sustainable energy provider.
Across the province, BC Hydro operates 31 generating stations that deliver over 43,000 gigawatt-hours of electricity per year to more than 1.9 million residential, commercial and industrial customers.