BC Hydro makes further rate cut for 2020-21, customers get credit on bill next year

VANCOUVER – BC Hydro’s residential customers will get a one-time credit of $4 on average early next year on their bills to reflect a change to its rates.

The BC Utilities Commission requested that Hydro amend its rate reduction for 2020-21 to reflect last year’s results and its latest financial forecast.

That dropped the rate decrease to 1.62 per cent from 1.01 per cent.

The credit reflects the additional decrease and is retroactive to April 1.

BC Hydro says commercial customers will receive from $10 to $600 on average based on the size of the business, while industrial customers will receive up to $375,000.

Energy Minister Bruce Ralston says the government has been focused on keeping BC Hydro rates affordable and the rate cut is the first in decades.

This report by The Canadian Press was first published Dec. 1, 2020.