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December 09, 2022 - 11:15 AM
FortisBC is raising electricity rates by nearly 4%.
The exact amount of the increase approved by the B.C. Utilities Commission is 3.98% and takes effect on Jan. 1, according to a FortisBC news release. The increase will add an extra $7.62 to the bill for residential consumers who use 1,100 kilowatt hours per month.
The rate hike could have been worse, according to FortisBC vice-president of energy supply and resource development Joe Mazza.
“We’re very conscious that any rate increase can be a concern for our customers and we’ve been able to find savings in our operations to offset some of this cost and lower the increase that would have otherwise been needed for 2023,” he said in the release.
READ MORE: Hydro One CEO says rate hike needed to keep the system stable
It’s important to improve infrastructure as the province experiences more extreme weather events, Fortis says, and the higher rates will help the utility company pay for new substations, power lines and replace aging equipment.
Two-tiered billing will end in 2023. There'll only be one line item for the total amount of the kilowatt hours used during each billing period. The province began phasing out the two-tiered rate system in 2019.
Information about how electrical rates are set can be found here.
FortisBC provides the South Okanagan with electricity from Summerland to Osoyoos, in addition to the Similkameen, Boundary and West Kootenays. A map of the service area can be found here.
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