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FortisBC receives decision on 2022 electric rates
Dec 20, 2021
Electric rates set to change as of January 1, 2022
Kelowna, B.C., December 20, 2021 – FortisBC Inc. (FortisBC) has received approval from the BC Utilities Commission (BCUC) for its 2022 electricity rates, which will result in a 3.47 per cent general rate increase for its customers, effective January 1, 2022. As a result, a residential customer with an average use of approximately 1,100 kilowatt hours (kWh) per month of electricity would see their monthly bills increase by about $5.36 per month.
“We strive to operate efficiently and keep rates as low as possible, while still making the necessary system improvements and long-term investments that ensure our customers will always have the power they need, when they need it,” said Diane Roy, vice-president, Regulatory Affairs, FortisBC. “B.C.’s hydroelectricity is a key enabler of the province’s CleanBC Roadmap, and maintaining and improving our electric system helps make this possible.”
As a regulated, privately owned utility, FortisBC applies to the BCUC each year to set rates for the following year. This annual review and approval process ensures electric rates reflect the actual cost of providing safe, reliable service, from generating and purchasing the power through to maintaining and improving the electricity grid that delivers energy to homes and businesses.
These new rates reflect what FortisBC must charge to execute on its plans for 2022 and maintain the system effectively for its customers. This includes the ongoing investments the company is making to sustain its pole structures, power lines and equipment as well as work on multi-year upgrade projects to its hydroelectric generating and transmission facilities.
2022 is also the final year of the gradual phase-out of the two-tier residential electricity rates which will be transitioned to a single rate as of 2023.
FortisBC understands that energy costs are an important consideration in household budgets. Customers needing support with their bills are encouraged to get in touch with FortisBC for tailored solutions to suit their unique needs.
For more information about current rates, and how rates are set, visit fortisbc.com/electricrates.
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FortisBC Inc. is a regulated utility focused on providing safe and reliable electricity at the lowest reasonable cost. FortisBC Inc. employs approximately 560 British Columbians and serves approximately 182,012 direct and indirect customers in B.C.’s South Interior. FortisBC Inc. owns and operates four regulated hydroelectric generating plants, as well as approximately 7,335 kilometres of transmission and distribution power lines. FortisBC Inc. is a subsidiary of Fortis Inc., a leader in the North American regulated electric and gas utility industry. FortisBC Inc. uses the FortisBC name and logo under license from Fortis Inc. For further information on FortisBC, visit www.fortisbc.com. For further information on Fortis Inc., visit fortisinc.com.