Here’s where we explain how we set rates and what your rate is – whether you’re a homeowner or a small or large business owner.
How we set your rate
Electricity isn’t easily stored, so we make it the exact moment you need it, travelling from one of our dams to a substation and then to your home or business. As a regulated, private utility, we set rates based on the cost of providing this day-to-day electricity service you need in the Southern Interior. The rates we set also address any necessary upgrades to our electricity system and infrastructure to ensure you continue to receive safe, reliable service well into the future.
Watch our video to learn more:
What your rates pay for
Your electricity rate has both a fixed and variable charge. The variable charge is tied to your electricity usage. Fixed charges pay for the costs of meters and infrastructure maintenance, which are necessary for providing electricity service. It’s the same on every bill and not based on how much electricity you use.
Each year we submit our revenue requirements to the British Columbia Utilities Commission for approval, and that determines the electricity rates for the following year.