FortisBC is dropping the price of natural gas effective January 1 and has announced electricity rates will stay the same — for now.
In a statement, FortisBC said the price drop is due to lower natural gas prices.
"We are working hard to keep rates as low as possible and this is a reflection of that work, as well as favourable natural gas market conditions," said Diane Roy, vice president of regulatory affairs with FortisBC.
Rate drops will vary for different parts of the province.
- Residential customers in the Lower Mainland, Fraser Valley, Interior, North and the Kootenays will see an approximate overall decrease of six per cent or $45 per year.
- Vancouver Island customers will see a decrease of approximately 15 per cent or $85 per year.
- Whistler customers will see a decrease of approximately 23 per cent or $245 per year.
The stay in electricity rates may be short lived, however. FortisBC applied to the British Columbia Utilities Commission for a rate increase of 0.17 per cent for 2018 — that decision is under regulatory review.