British Columbians will paying more to keep the lights on in their homes.
Average residential households will pay an extra combined total of $90 over the next two years as BC Hydro has asked B.C. Utilities Commission for an annual average rate increase at 3.75 per cent for the next two years. The increase will be effective April 1.
Last year's increase was 2.3 per cent.
B.C.'s Energy Minister Adrian Dix announced the increase in Vancouver, where Chris O Riley, BC Hydro president and chief executive officer, joined him.
The ministry said in its statement announcing the increase that the increase reflects what it calls rising operating costs caused by inflation; Site C coming online and critical work required to significantly invest in B.C.'s energy supply and infrastructure to bolster the provincial economy in the face of tariffs.
"We must take urgent action to protect British Columbians from the uncertainty posed by rising costs while building a strong, robust and resilient electricity system for the benefit of B.C. s long-term energy independence," Dix said. "This move guarantees certainty and reaffirms our commitment to keeping electricity rates well below the North American average and cumulative inflation, while growing our clean-energy advantage."
Dix said B.C.'s hydro-rates rates among the lowest in the world, with the third-lowest rate in North America.
More to come.
