Electricity rate will change as of January 1, 2025, for FortisBC customers

Nov 29, 2024

Interim rate change reflects the cost to provide electricity to customers and to support the safety and reliability of the system

KELOWNA, B.C.,— November 29, 2024: As of January 1, 2025, the average FortisBC Inc. (FortisBC) residential customer who uses about 825 kilowatt hours of electricity per month will see an increase in their monthly bill of around $7.88. Changes to individual bills will vary based on use. This interim rate change was reviewed and approved by the British Columbia Utilities Commission (BCUC), ensuring rates have been set in a fair and transparent manner.

As a regulated utility, FortisBC applies to the BCUC each year to set electricity rates for the following year. This annual review and approval process ensures electricity rates reflect the 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. The BCUC has approved a 5.65 per cent overall rate increase for FortisBC’s electricity customers, effective January 1, 2025. This rate is approved on an interim basis. The BCUC is also in the process of reviewing FortisBC’s 2025 to 2027 Rate Setting Framework which could affect final rates. A decision is expected in the first half of 2025 and FortisBC expects to apply for permanent rates later in 2025.

“Customer demand for power continues to grow, along with the cost of purchasing power. To ensure we can meet our customers' growing electricity needs and invest in our system for safe and reliable energy delivery, we will be adjusting electricity rates,” said Michelle Carman, vice president of customer service and external communications. “We understand that rate increases may be difficult for some of our customers. We have energy saving tips and tools available and our dedicated customer service team is here to support you. If you have any questions about your bill, please don't hesitate to reach out to us.”

FortisBC has seen an increased cost of purchasing power in recent years as demand for electricity grows. In addition to generating power from its four hydroelectric generating facilities, FortisBC purchases a portion of its requirements through long-term contracts with BC Hydro, other producers and from the wholesale market. To help offset costs, FortisBC continually monitors where it sources its power from based on price and what’s required to meet customers’ needs and sells any excess power it has generated back to the market to help offset costs.

FortisBC understands that energy costs are an important consideration in household budgets and offers a number of low-cost solutions for customers, and no-cost energy savings programs for customers with qualifying incomes. It also has a number of programs and rebates to help customers save energy. These programs also help to keep rates more affordable by lessening or deferring the need to build new infrastructure to keep up with energy demand.

For more information about rates and to find ways to help lower your bill, visit fortisbc.com/electricityrates. For more information on rebates, visit fortisbc.com/rebates.

 

Media contact