FortisBC rates for electricity customers increasing by nearly 4% next month
Residents of B.C.'s Southern Interior will soon be paying more for electricity.
FortisBC, which provides electricity in the region, announced Wednesday that it has received interim approval from the B.C. Utilities Commission to raise its rates by 3.98 per cent starting Jan. 1.
The utility says the increase will cost the average customer about $7.62 per month, though individual bills will see higher or lower increases depending on usage.
The need for the increase stems from "a growing market demand for power" and ongoing investment in the company's delivery system, said Joe Mazza, FortisBC's vice president of energy supply and resource development, in the announcement.
"We’re very conscious that any rate increase can be a concern for our customers," Mazza added. "We’ve been able to find savings in our operations to offset some of this cost and lower the increase that would have otherwise been needed for 2023."
The BCUC's interim approval means the company can proceed with the increase. The commission is expected to make a final decision on rates "later in 2023," according to FortisBC.
The company also noted that, beginning in January, all residential customers will see a single rate on their bills. The company has been phasing out its usage-based, two-tiered rate system since 2019.
NATURAL GAS RATES DROPPING
Rates for FortisBC's natural gas service are set via a different process, and are reviewed by the BCUC regularly.
On Thursday, the company announced that the BCUC's quarterly review of its gas rates would result in a four-per-cent decrease in costs for most customers beginning Jan. 1.
FortisBC estimates that the change will equate to savings of about $4 per month, depending on consumption.
“Customers will see an overall decrease because the cost of gas has gone down,” said Mazza in Thursday's announcement.
“It's important to remember, however, that rates reflect more than just the price of the commodity. Our rates also factor in important infrastructure upgrades and maintenance to our system to ensure the safe and reliable delivery of energy to our customers.”
The company's service area for natural gas is much larger than the area where it delivers electricity. Customers in nearly every region of the province – including Vancouver Island, the Lower Mainland, and the Interior – will see their rates decrease in the new year, according to FortisBC.
The exception is the province's northeast corner. FortisBC customers in Fort Nelson will see a small overall increase in costs, roughly one per cent or $1 per month, depending on usage, the company said.
BC HYDRO CUSTOMERS TO SEE INCREASE IN APRIL
BC Hydro, which provides electricity for most of the rest of the province, received interim approval from the BCUC for a 1.4-per-cent decrease to its rates back in March.
That decrease took effect April 1, and was part of a three-year rate plan. The plan calls for increases of 2 per cent on April 1, 2023 and 2.7 per cent on April 1, 2024.
As of Wednesday, the BCUC website indicated that consideration for final approval of BC Hydro's rate plan was still "in progress."
CTVNews.ca Top Stories
B.C. tenants evicted for landlord's use after refusing large rent increase to take over neighbouring suite
Ashley Dickey and her mother rented part of the same Coquitlam duplex in three different decades under three different landlords.
Mountain guide dies after falling into a crevasse in Banff National Park
A man who fell into a crevasse while leading a backcountry ski group deep in the Canadian Rockies has died.
Expert warns of food consumption habits amid rising prices
A new survey by Dalhousie University's Agri-Food Analytics Lab asked Canadians about their food consumption habits amid rising prices.
MPP Sarah Jama asked to leave Ontario legislature for wearing keffiyeh
MPP Sarah Jama was asked to leave the Legislative Assembly of Ontario by House Speaker Ted Arnott on Thursday for wearing a keffiyeh, a garment which has been banned at Queen’s Park.
Charlie Woods, son of Tiger, shoots 81 in U.S. Open qualifier
Charlie Woods failed to advance in a U.S. Open local qualifying event Thursday, shooting a 9-over 81 at Legacy Golf & Tennis Club.
Ex-tabloid publisher testifies he scooped up possibly damaging tales to shield his old friend Trump
As Donald Trump was running for president in 2016, his old friend at the National Enquirer was scooping up potentially damaging stories about the candidate and paying out tens of thousands of dollars to keep them from the public eye.
Here's why provinces aren't following Saskatchewan's lead on the carbon tax home heating fight
After Prime Minister Justin Trudeau said the federal government would still send Canada Carbon Rebate cheques to Saskatchewan residents, despite Saskatchewan Premier Scott Moe's decision to stop collecting the carbon tax on natural gas or home heating, questions were raised about whether other provinces would follow suit. CTV News reached out across the country and here's what we found out.
Montreal actress calls Weinstein ruling 'discouraging' but not surprising
A Montreal actress, who has previously detailed incidents she had with disgraced Hollywood producer Harvey Weinstein, says a New York Court of Appeals decision overturning his 2020 rape conviction is 'discouraging' but not surprising.
Caleb Williams, Jayden Daniels and Drake Maye make it four NFL drafts with quarterbacks going 1-3
Caleb Williams is heading to the Windy City, aiming to become the franchise quarterback Chicago has sought for decades.