“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,” said Energy Minister Adrian Dix in a news conference Monday.
The provincial government has ordered a 3.75 per cent increase to B.C. Hydro rates over the next two years, citing inflation, the U.S. tariffs, and the cost of the Site C dam.
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The rate increase is effective beginning April 1, 2025 and April 1, 2026.
“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,” said Energy Minister Adrian Dix in a news conference Monday.
“That is why we are submitting a rate stability direction to the B.C. Utilities Commission to set B.C. Hydro’s rate increases for the next two years. This move guarantees certainty and reaffirms our commitment to keeping electricity rates well below the North American average and cumulative inflation, while growing our clean-energy advantage.”
The rate amounts to an additional $3.75 each month for the average family paying a monthly bill of $100.
Hydro rates are typically set by the independent B.C. Utilities Commission, however, the B.C. government under Premier David Eby has been criticized for political interference, beginning with the 2023 firing of former BCUC chair and CEO David Morton.
In September 2023, Morton was terminated by cabinet order, after nearly 13 years with the commission. Eight of those years were spent heading up the commission, which is tasked with regulating B.C. Hydro and ICBC.
At the time, the B.C. NDP gave no specific reasons for Morton’s firing though Eby had vowed to “better align” the independent regulator with NDP “government priorities.”
More to come.
With files from Vaughn Palmer and Alec Lazenby.