FortisBC received approval from the British Columbia Utilities Commission for an electricity rate that's set to take effect at the start of the new year.
The rate hike is 2.76 per cent, which amounts to approximately $3.65 more per month for the average residential electricity customer. The BCUC has approved the rate as interim, and the final rate change is subject to change based on further regulatory review in 2017.
“We recognize the unique energy needs of British Columbians and know that decisions made today will have an impact for decades to come," said Diane Roy, vice president of regulatory affairs.
"We work to make investments in the system and purchase the necessary capacity so our customers have power when they need it most now and into the future.”
In the rate-hike announcement, Fortis representatives said the company is "meeting the challenge of balancing ongoing investments needed to maintain and upgrade our electrical infrastructure with the impact on rates. We work to ensure our customers have a stable source of power when they need it most through upgrades and improvements to the system and long-term electricity purchase agreements to meet customer growth and demand."
FortisBC Inc. employs over 500 British Columbians and serves approximately 167,000 direct and indirect customers in B.C.’s South Interior. FortisBC Inc. is indirectly wholly owned by Fortis Inc., the largest investor-owned distribution utility in Canada. FortisBC Inc. owns and operates four regulated hydroelectric generating plants, as well as approximately 7,200 kilometres of transmission and distribution power lines.
For information on how to lower energy costs go to fortisbc.com/rebates.
If customers are concerned about their bill or are looking for ways to save energy, they can call us at 1-866-436-7847.