BC Hydro wants to cut rates starting in 2020

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.

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.

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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.

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