The BC government is following through on a key election promise just as the weather is getting colder. The NDP announced on Wednesday that it would freeze BC Hydro rates effective immediately.
BC Hydro rates have gone up by more than 24% in the last four years, and by more than 70% since 2001.
“After years of escalating electricity costs, British Columbians deserve a break on their bills,” said Michelle Mungall, BC’s Minister of Energy, Mines and Petroleum Resources.
In 2016, BC Hydro applied to the BC Utilities Commission for three years of increases, with a 3% increase planned next year, but will be pulling back its request, consistent with this administration’s commitment to a rate freeze.
The rate freeze is meant to give the government time to undertake a comprehensive review of BC Hydro.