B.C. power prices remain third lowest in North America
The average monthly residential bill in B.C. is about $40 lower than the average of the cities surveyed.
The Hydro-Quebec report also shows that B.C. has the fourth lowest rates in North America for commercial and large industrial customers.
Utilities across North America, including BC Hydro, continue to see increases in costs driven by the need to make substantial investments in aging facilities and infrastructure. The Province of B.C. and BC Hydro have introduced a 10-year plan to keep rates as low as possible while BC Hydro makes investments in aging assets and new infrastructure that support B.C.'s growing population and economy.
BC Hydro is forecasting expenditures, on average, of about $2 billion a year over the next 10 years to refurbish, upgrade, expand and add to its system of dams and wires — the generation, transmission and distribution assets that create and deliver electricity to B.C.'s homes, businesses and industry.
The report is compiled each year by Hydro-Quebec. The authors take a look at rates on April 1 each year.
Related News
U.S. renewable electricity surpassed coal in 2022
WASHINGTON - Electricity generated from renewables surpassed coal in the United States for the first time in 2022, the U.S. Energy Information Administration has announced.
Renewables also surpassed nuclear generation in 2022 after first doing so last year.
Growth in wind and solar significantly drove the increase in renewable energy and contributed 14% of the electricity produced domestically in 2022. Hydropower contributed 6%, and biomass and geothermal sources generated less than 1%.
“I’m happy to see we’ve crossed that threshold, but that is only a step in what has to be a very rapid and much cheaper journey,” said Stephen Porder, a professor…
