Industrial Electricity Rates
Decades ago, BC Hydro built the backbone of B.C.'s electricity system. Today, major components of that system need to be repaired or replaced. Meanwhile, British Columbia's population and economy are growing, and new technologies have increased household power use.
Government and BC Hydro have worked together to reduce pressure on rates. New measures under the Ten Year Plan for BC Hydro will free up additional cash to support investments in infrastructure and lower BC Hydro's operating costs. Cost effective investments in infrastructure, conservation and clean energy will meet the expected 40 per cent increase in demand over the next 20 years, with programs that will help customers to reduce their bills by using less electricity.
Keeping Electricity Rates Low
The B.C. government is committed to keeping electricity rates as low as possible, using a number of different approaches.
- By evaluating policy
In 2013, the B.C. Government appointed the Industrial Electricity Policy Review Task Force to examine the current industrial electricity policy and regulatory framework. Government and BC Hydro are working together to keep electricity rates as low as possible while BC Hydro makes investments in aging assets and new infrastructure to support B.C.’s growing population and economy.
- By promoting efficiency
The Province is committed to advancing the efficiency of energy use in B.C.’s industrial sector. Through improved energy efficiency, industry can lower operating costs, reduce emissions and increase business competitiveness.
- By supporting programs
To help industrial customers and customers on low incomes reduce their bills by using less electricity, BC Hydro will invest $1.6 billion in Power Smart programs under its Ten Year Plan. In addition, BC Hydro will conduct a rate design review process to examine ways to provide industrial customers with more options to reduce their electricity costs.