VANCOUVER – BC Hydro‘s residential customers will get a one-time credit of $4 on average early next year on their bills to reflect a change to its rates.
The BC Utilities Commission requested that Hydro amend its rate reduction for 2020-21 to reflect last year’s results and its latest financial forecast.
That dropped the rate decrease to 1.62 per cent from 1.01 per cent.
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The credit reflects the additional decrease and is retroactive to April 1.
BC Hydro says commercial customers will receive from $10 to $600 on average based on the size of the business, while industrial customers will receive up to $375,000.
Energy Minister Bruce Ralston says the government has been focused on keeping BC Hydro rates affordable and the rate cut is the first in decades.