FortisBC will begin its five-year process of changing to a flat rate for residential electric customers on July 1.
The phase-in period will include gradually reducing the higher tier rate and increasing the lower tier rate until a single, flat rate is established by 2023.
“As we went through the rate design process, we facilitated an open dialogue with our customers to gain insight as to what their needs were in relation to how our rates are structured,” FortisBC regulatory affairs vice-president Diane Roy said in a news release.
“This first phase towards a single residential rate is based on that input.”
During this first implementation phase, the higher tier will decrease from 15.617 to 14.915 cents per kilowatt-hour, and the lower tier will increase from 10.117 to 10.394 cents per kilowatt-hour.
The customer charge will be changing from $16.04 to $16.58 per month.
Changes to individual bills will vary based on use.
- Kirk Penton, Castanet
