BC Hydro has asked the B.C. Utilities Commission for a decrease in rates after receiving higher than anticipated income following an audit of its 2019 financial forecast.
If approved, customers will pay less for electricity by next spring.
The proposal would see a rate decrease of 1 per cent in April 2020, an increase of 2.7 per cent in 2021, a decrease of 0.3 per cent in 2022, followed by an increase of 3 per cent in 2023.
The proposed lower rates build on the results of Phase 1 of the government’s comprehensive review of BC Hydro, which was completed in February 2019.