FortisBC receives decision on interim 2023 electric rates
- Dec 8, 2022 6:21 pm GMT
'With a growing market demand for power, we are forecasting an increased cost to purchase power in the upcoming year to serve our growing customer demand. We are also continuing to invest in our system to ensure the safe and reliable delivery of energy to our customers and to meet their growing demand,' said
As a regulated, privately owned utility, FortisBC applies to the
These new rates reflect what FortisBC must charge to execute on its plans for 2023 and maintain the system effectively for its customers. This includes the ongoing investments the company is making to build new substations and power lines to provide sufficient power in areas with growing energy needs and replace aging equipment at its hydroelectric generating and transmission facilities. With FortisBC's hydroelectric infrastructure a key enabler for the province's CleanBC Roadmap, keeping the system well-maintained and seizing opportunities to improve it is critical as demand grows and the province experiences more extreme weather events.
These rates are approved on an interim, refundable basis. A final decision on permanent rates is expected in later in 2023.
As of 2023, all residential use will be billed at a single rate and, for the first time since 2011, customers will see only one line item on their bill for all the kilowatt hours they have used for each billing period. We have been phasing out two-tiered rates, that is, different rates for different levels of use, since 2019.
FortisBC understands that energy costs are an important consideration in household budgets and offers a number of one-on-one solutions for customers who are experiencing concerns with their bill, including no-cost energy savings programs for customers with qualifying incomes.
For more information about current rates, and how rates are set, visit fortisbc.com/electricityrates.
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