April 1st didn’t just bring a lot of jokes and tricks: it ushered in a new, ten year, mulit-tiered rate increase plan by BC Hydro, and as the consumer, it will be you who bears the higher bills. According to Hydro’s website:
- Government will set rate increases for the initial two years of the 10 year plan at nine per cent and six per cent;
- The BC Utilities Commission (BCUC) will set increases for the following three years within caps of four per cent, 3.5 per cent and three per cent; and
- In the final five years of the plan, rates will be set by the BCUC and actions by government and BC Hydro will ensure increases low and predictable.
What does this mean to you? If your average monthly Hydro bill is $90, it will jump to $98.10 in the first year, $103.99 in the second year, and $108.14, $111.93 and $115.29 in the third, fourth and fifth years. Additional rate increases in the final five years are discretionary, and will be set by the BCUC.
And this is just for the homeowner! Think of the impact on industry and the corporate sector! Multiply these figures by tens of thousands of dollars.
Our team at Fitterer Electric Ltd. can work with both the homeowner and the corporate sector to drastically alter the cost of the bottom line. Through energy audits and custom-designed energy management systems, we can dramatically lower the size of your carbon footprint and reduce your monthly expenditures.
Contact us at info (at) fittererelectric.com to book an appointment or discuss just how much we can do for you!