If you are a BC Hydro customer, you can expect a one-time bill credit early next year.
This is as a result of an additional 0.61 per cent rate decrease from April 1 of this year.
In the Fiscal 2020/21 Revenue Requirements Application, the BC Utilities Commission requested BC Hydro amend its rate reduction to reflect last year’s results and the latest financial forecast.
As a result, this year’s rate will go from a net decrease of 1.01 per cent of 1.62 per cent.
Residential customers should expect a one-time bill credit of $4 on average.
Meanwhile, commercial customers will receive anywhere from $10 to $600 depending on the business size and industrial customers will receive up to $375,000 credit.
BC Hydro plans to file its next Revenue Requirement Application with the BC Utilities Commission in mid-December.
Any rate change requires the Commission’s approval.
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