Fraser Valley (With files from VanCity Buzz) – BC Hydro announced back in February that they filed an interim one-year rate application with the BC Utilities Commission requesting a 4% rate increase effective April 1.
The company says the rate hike is consistent with the 10-year rates plan announced by the province in 2013 that caps increases at 4%. Rates are set to increase 4% for fiscal 2017, 3.5% for fiscal 2018, and 3% for fiscal 2019.
BC Hydro says they anticipate an increase in electricity demand in the province – in fact, they predict growth of 40% over the next two decades. They say recent events in the LNG and mining sectors have lead them to file for the interim rate application.
