BC Hydro rates going down?
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VICTORIA — For the first time in decades, B-C Hydro is requesting a decrease in electricity rates, effective in the spring — although data submitted by the Crown utility shows rates will still go up over the long-term.
The drop must be approved by the B-C Utilities Commission.
Hydro is seeking a one per cent dip in rates effective April 1st and another decrease of 0.3 per cent in 2022, but those cuts will be separated by a 2.7 per cent increase in 2021 and a further jump of three per cent in 2023.
If approved by the utilities regulator, Hydro says the cumulative bill increase over the next five years is estimated to be 6.2 per cent — an amount the company says is 23 per cent lower than the 8.1 per cent cumulative hike forecast in February.
