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Electricity rate adjustments starting January 1 2013

December 7, 2012

​Starting Jan. 1, 2013, FortisBC residential electricity customers will see a 4.2 per cent increase on their electricity bills from the recent BC Utilities Commission revenue requirements decision, along with a 2.3 per cent increase from rate rebalancing.

The cumulative rate adjustment for residential customers will mean an increase of 6.6 per cent. For the average residential customer using 1,050 kWh per month, the change is an increase of approximately $7.07 per month.

“FortisBC works to provide our customers with safe, reliable electricity at the lowest reasonable cost,” said Tom Loski, FortisBC vice president of customer service, “but changes in the external environment are causing pressure on our rates such as financing system maintenance and improvements, along with increased purchases of power.”
 
The BC Utilities Commission approved the 4.2 per cent increase for FortisBC electricity customers as part of the utility’s 2012/2013 revenue requirements. Further adjustments to electricity rates are because of rate rebalancing. Last year, FortisBC announced rate rebalancing which ensures that each customer group pays their share of the costs required to serve them, but does not generate extra revenue for FortisBC.
 
“This is the final phase of rate rebalancing for our residential customers that came as a result of our cost of service analysis. This analysis is done periodically to ensure rates are fair and equitable between customer groups and that no one customer class is subsidizing another,” said Loski.
 
Therefore, the cumulative rate adjustment starting Jan. 1 for other FortisBC electricity customers will see small business customers receiving a 5.5 per cent reduction; lighting customers will see a 6.8 per cent increase; wholesale customers will see a 5.9 per cent increase and Nelson wholesale will also see an increase of 4.6 per cent.
 
FortisBC continues to offer programs and services to help customers manage their electricity use through its PowerSense program. The FortisBC PowerSense program provides customers both financial incentives and helpful advice on energy efficient technologies and practices that can reduce electricity bills.
 
For more information on the 2012/2013 revenue requirement decision or to view the rate rebalancing news releases from December or April, 2011 please visit fortisbc.com. 

Media Backgrounder

Rate Adjustments by Customer, January 1, 2013
 
​Revenue Requirement
(per cent)
​Rate Rebalancing
(per cent)
​Residential ​4.2 ​2.3
​Commercial ​4.2 ​(9.3) decrease
​Wholesale ​4.2 ​1.6
​Lighting ​4.2 ​2.5
​Nelson Wholesale ​4.2 ​0.4
 

Media contact:

Neal Pobran
Managr, Corporate Communications
Phone: 250-469-8128
Email: neal.pobran@fortisbc.com
fortisbc.com 
twitter.com/FortisBC
youtube.com/FortisBC

​FortisBC is a regulated utility focused on providing safe and reliable energy, including natural gas, electricity, propane and thermal energy solutions. FortisBC employs more than 2,300 British Columbians and serves approximately 1.1 million customers in more than 135 B.C. communities. FortisBC is indirectly wholly owned by Fortis Inc., the largest investor-owned distribution utility in Canada. FortisBC owns and operates four regulated hydroelectric generating plants, approximately 7,000 kilometres of transmission and distribution power lines and approximately 47,000 kilometres of natural gas transmission and distribution pipelines. FortisBC Inc., FortisBC Energy Inc., FortisBC Energy (Vancouver Island) Inc., and FortisBC Energy (Whistler) Inc. do business as FortisBC. Fortis Inc. shares are listed on the Toronto Stock Exchange and trade under the symbol FTS. Additional information can be accessed at www.fortisinc.com or www.sedar.com.

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