BC Hydro cancels rate hike for 2018, government to conduct review
VICTORIA – A three per cent hike in hydro rates in British Columbia scheduled for next year has been put on hold.
Energy Minister Michelle Mungall says the government is keeping its promise to freeze rates that have climbed more than 24 per cent over the last four years.
BC Hydro had applied to the province's utilities commission in 2016 to increase rates by three per cent annually over three years, but Mungall says the Crown corporation is now pulling back its request.
She says the province will conduct a review of BC Hydro to find cost savings that could help keep rates low.
The review will take place after the NDP government reaches a decision on whether to proceed with or cancel the $8.3 billion Site C hydroelectric dam project.
Mungall says any adjustments to hydro rates that result from the review will be implemented in April 2019.
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