FortisBC will maintain its 2017 electricity rates in 2018.
Earlier this month, the B.C. Utilities Commission approved FortisBC’s request to maintain its rates.
“We’re pleased our customers will see no change to their electricity rates this year,” said Diane Roy, vice-president, regulatory affairs, FortisBC.
“Keeping rates as low as possible is always a priority for us and this year’s results reflect the success we’ve had in reducing costs while continuing to make necessary system improvements.”
The rate freeze applies to residential customers as well as to wholesale purchasers of electricity.
Each year, FortisBC must submit an application that determines the rates for the following year.
The 2017 rates were maintained as interim rates while the utilities commission considered the application.
Representatives from Fortis say the rate freeze means their rates are below average when compared with those in other cities in North America.
In Summerland, the municipality purchases electrical power wholesale from Fortis, but distributes it through Summerland Power.
Linda Tynan, chief administrative officer for the municipality, said the cost of purchasing power is the biggest cost to the municipal power utility.
However, there are other costs as well. If those costs change, Summerland Power could choose to change its electrical rates.