BC Hydro announced on Dec. 1 that they would be reducing rates by an additional 0.61 per cent, retroactively applied to bills from Apr. 1, 2020.
What this means is that customers will receive a one-time bill credit from April this year. Residential customers could get a one-time bill credit of around $4 while commercial customers could get a credit of up to $10 to $600 depending on the size of the business. Industrial customers will be receiving up to $375,000 as the one-time bill credit.
Earlier in April, BC Hydro had slashed their rates by one per cent; a first rate decrease in decades. They also offered targeted bill relief to help those who needed help the most. BC Hydro had also stopped all service disconnections for non-payment during COVID-19 and cancelled all non-emergency planned power outages affecting its customers.
In a statement regarding the latest rate reduction, Bruce Ralston, the minister of Energy, Mines and Low Carbon innovation, said, “Over the last three years, our government has been focused on keeping BC Hydro rates affordable and using more of B.C.’s clean, reliable hydroelectricity in place of fossil fuels to power our vehicles, homes and industry. This year’s rate cut – the first in decades – is a step in the right direction as we continue to build an economy that works for people.”
Customers will see the bill credit in early 2021.