BC Hydro electricity credit: Here’s how much you’ll get and when

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Who’s eligible for this credit score? How do you get it? This is what you must know

Printed Apr 01, 2024  •  Final up to date 1 hour in the past  •  3 minute learn

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In a month when prices — from the carbon tax and beer and alcohol to B.C. Ferries fares — are going up, right here is a few excellent news.

Beginning April 1, British Columbians will get a break on their power payments with the province’s new electrical energy affordability credit score, which was introduced within the funds in February, kicking in.

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B.C. Hydro stated the credit score means the common family will get a $100 financial savings over the yr, whereas the common enterprise will save about $400.

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Whereas electrical energy payments are going up this yr with a deliberate 2.3 per cent enhance already authorized by the B.C. Utilities Fee, that roughly $2 a month enhance will likely be greater than offset by the credit score, which is anticipated to price the provincial authorities $370 million.

Who’s eligible for the credit score? 

Most B.C. Hydro residential prospects will get the credit score if they’ve an lively account as of March 31, 2024.

Prospects with multiple account with B.C. Hydro will get the credit score on every account.

How a lot would I get?

The credit score quantity is predicated in your precise electrical energy consumption between April 1, 2023 and March 31, 2024 — particularly, your Step 1 power fees.

Your Step 1 utilization will likely be multiplied by 1.66 cents per kWh to calculate the entire credit score quantity, stated B.C. Hydro. For many households, this is able to translate to a $100 credit score.

The quantity might be much less for those who use lower than the common of all residential prospects, or for those who opened your B.C. Hydro account after April 1, 2023. In that case, your credit score will likely be calculated primarily based on the date you opened your account by way of March 31, 2024.

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What about enterprise prospects? 

The credit score additionally applies to companies. B.C. Hydro stated the common enterprise buyer will get a credit score of as much as 4.6 per cent of their consumption, which calculates to $400 a yr.

How do I get the credit score? 

You don’t have to use for the credit score.

It should mechanically present up in your invoice over the subsequent yr beginning with the primary invoice after April 15. Prospects on month-to-month billing will get the credit score in 12 instalments; prospects on bi-monthly billing will get the credit score in six instalments.

I acquired a textual content message from B.C. Hydro providing a credit score or rebate. Is it legit? 

B.C. Hydro burdened that prospects do not need to do something to get the electrical energy affordability credit score.

It warned prospects about scams, together with textual content messages and emails claiming to supply a B.C. Hydro credit score, refund or rebate. When you obtain a textual content message or electronic mail, you possibly can contact B.C. Hydro customer support at 1-800-224-9376 to make clear.

Why can’t I simply get a rebate cheque? 

B.C. Hydro stated making use of invoice credit is extra environment friendly administratively.

I don’t get my electrical energy by way of B.C. Hydro. Am I nonetheless eligible?

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Sure. The provincial authorities stated it has entered into settlement with non-B.C. Hydro utilities to ensure their prospects get comparable credit.

FortisBC electrical energy prospects within the southern Inside from the U.S.-Canada border as much as Kelowna and the West Kootenays ought to anticipate to obtain the electrical energy reasonably priced credit score, as ought to households in New Westminster, Penticton, Summerland, Grand Forks and Nelson, who get their electrical energy from their municipality.

chchan@postmedia.com

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