How much BC Hydro rates will increase over the next two years | Daily Hive

Here's how much BC Hydro rates will increase over the next two years

Yi Bao/Shutterstock

If you’re a BC Hydro customer, rates will go up in the next couple of years, and the B.C. Ministry of Energy and Climate Solutions has revealed exactly how much they’ll increase and why.

A release from the ministry suggests that the province is looking to respond to economic and trade uncertainty to benefit residents without punishing utility providers like BC Hydro.

“The Province is taking action to provide stability in BC Hydro’s electricity rates during these unpredictable times while keeping rate increases below cumulative inflation,” the ministry states.

The ministry says BC Hydro has “among the lowest electricity rates in North America.”

The changes come into effect on April 1, 2025.

You might also like:

As a customer, you’ll get hit with an average rate increase of 3.75 per cent for the next two years. The bottom line is if you’re paying $100 a month now, which BC Hydro says is how much the average household pays, you’ll be looking at an additional $3.75 per month or an additional $45 over the course of a year.

This is part of what the province calls a “rate stability direction.”

“The rate stability direction from the Province will provide customers and growing industries with the certainty they need during these times while ensuring our rates remain affordable,” said Chris O’Riley, CEO and president of BC Hydro.

What may make this increase sting a tad more is that, unlike last year, B.C. residents are not getting a utility bill credit.

“The rate adjustments for the upcoming two years reflect rising operating costs due to inflation, the needed Site C hydroelectric project coming into service, and the critical work required to significantly invest in B.C.’s energy supply and infrastructure to bolster B.C.’s economy and energy security,” the ministry says.

If you greatly benefited from the credit or need extra support to help pay for your utility bills, there is one alternative.

“In addition to the rate stability direction, [the] government is providing support to people in British Columbia who are vulnerable or in crisis, a top priority during uncertain times. A key resource for supporting customers is BC Hydro’s Customer Crisis Fund, which offers grants for those in temporary financial crisis. Government has taken action to ensure an additional $1.9 million will be added to the fund, which is expected to help approximately 4,700 households between now and April 2026.”

BC Hydro says the rate changes are “below cumulative inflation, keeping electricity costs near the lowest in North America and about half what Albertans pay.”

“BC Hydro’s cumulative rate increases between 2017-18 and 2026-27 will be 12.4 per cent below cumulative inflation.”

You might also like: