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B.C. Hydro customers can expect a rate increase this year and next, which will add $3.75 per month to the average household bill, according to the province.
B.C. Energy Minister Adrian Dix issued a directive to the B.C. Utilities Commission to increase hydro rates by 3.75 per cent a year for the next two years.
“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 in a statement.
Dix said even with the rate increase, British Columbians have among the lowest electricity rates in North America, paying almost half of what Albertans pay. The rate hike stays below cumulative inflation, he said.
For an average residential household, which pays about $100 a month for heat and electricity, the rate increase will mean an extra $3.75 per month.
The increase takes effect April 1.
“The rate stability direction from the province will provide customers and growing industries with the certainty they need during these times, while ensuring our rates remain affordable,” B.C. Hydro’s CEO Chris O’Riley said in a statement. “The rate adjustment will go toward supporting critical investments in our system that will ensure we maintain our status as a leader in renewable energy, encouraging overall economic growth and job creation.”
The province said B.C. Hydro is facing rising operating costs due to inflation, added costs related to the Site C hydroelectric project coming into service and infrastructure costs related to boosting B.C.’s electrical grid.
Dix noted that B.C. Hydro offers a customer crisis fund, which provides grants to those in temporary financial crisis. An additional $1.9 million has been added to the fund, which is expected to help approximately 4,700 households between
now and April 2026.
