BC Hydro has announced customers will receive a one-time bill credit due to a 0.61% rate decrease.
In a statement, BC Hydro said the decision came in the Fiscal 2020/21 Revenue Requirements Application, in which “the BC Utilities Commission requested BC Hydro to amend its rate reduction to reflect last year’s results and the latest financial forecast.”
The rate decrease is effective retroactively to April 1, 2020.
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BC Hydro says residential customers can expect a one-time bill credit of $4 on average. Commercial customers could receive $10 to $600 on average depending on the size of their business, and industrial customers will receive up to $375,000.
The credit is expected to arrive in early 2021.
In the next filing of its Revenue Requirement Application with the BC Utilities Commission in mid-December, BC Hydro says it aims to keep low for its customers. Any changes would require the Commission’s approval.