Kelowna, B.C.—Electricity rates are expected to increase in British Columbia for 2021. FortisBC received interim approval from the British Columbia Utilities Commission for a 4.36 per cent general rate increase for customers, effective Jan. 1, 2021.
Residential customers with average use of around 12,000-kilowatt hours per year can expect to see their monthly bill increase by approximately $7.30 per month, reports FortisBC.
“We strive to operate efficiently and keep rates at the lowest possible cost,” said Diane Roy, vice president of regulatory affairs at FortisBC. “However, increases are sometimes needed so FortisBC can make necessary system improvements and long-term investments that ensure our customers will always have the power they need, when they need it.”
FortisBC is a regulated, privately owned utility company in British Columbia. The company plans to spend around $72 million in electric infrastructure improvements in the coming year. This includes yearly investments the company makes to sustain its pole structures, power lines, and equipment, as well as work on multi-year upgrade projects, reports FortisBC.
A final decision on permanent rates is expected in early 2021. FortisBC is on track to phase out two-tiered residential rates by 2023.
For more information about current rates, and how rates are set, visit www.fortisbc.com/electricrates.