Welcome to April: Higher BC Hydro rates
VANCOUVER -
Most people expected it was coming but as of Sunday April 2, it's officially a reality.
Both BC Hydro rates and fares for BC Ferries have gone up.
Hydro's rates rose by 3.5 per cent, which keeps in line with the corporation's 10-year pricing plan.
Thank you to BC Ferries and BC Hydro for increasing your rates. All the cuts from the Liberals was for nothing. So thanks for nothing.
The increase means the average monthly residential bill will increase by $3.75
The new rates are to help update BC Hydro's aging infrastructure and enable the corporation to keep up with the ever-growing need for power.
This winter demand for electricity hit a three year high in the midst of a two-week cold snap on the South Coast.
"We've been working hard to keep rates as lowe as possible as we upgrade the electricity system. But we need to make major investments, and that’s going to have an impact on the rates that we need to charge."
"We’re keeping rates low and ensuring that any rate increases are predictable, while making the investments into our dams and power lines that are needed to provide reliable power."
As of April 1, 2017, residential rates will increase by 3.5%. This is in line with our 10-year rates plan announced in November 2013, which includes incremental rates increases of 4% in 2016, 3.5% this year and 3% in 2018.
This means for the average residential customer, electricity bills will increase by around $3.75 per month this year.
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