B.C. recommending hydro rate increase of 3.75% for next 2 years

Adrian Dix pauses responds to questions during a news conference in Vancouver on Nov. 7, 2022. . (THE CANADIAN PRESS/Darryl Dyck)

B.C. will be increasing hydro rates at a set amount for the next two years, the energy minister announced Monday, a move prompted – in part – by the “uncertainty” created by U.S. President Donald Trump’s trade war.

The ministry will be submitting a “rate stabilization request” to the B.C. Utilities Commission to set the annual increase at 3.75 per cent, which would take effect on April 1.

“This move guarantees certainty and reaffirms our commitment to keeping electricity rates well below the North American average and cumulative inflation, while growing our clean-energy advantage,” Adrian Dix said in a news release.

The increase will, Dix said, allow the utility to cover the costs of increased demand while providing stability for customers.