Premier John Horgan announced BC Hydro and proposed policy that will reduce hydro costs for customers.
Residents who are out of work due to COVID-19 BC Hydro is offering a three-month credit on hydro bills so, residents can focus on things that matter to them most.
Small businesses that have been forced to close hydro will be giving them a three month payment holiday starting April 1 until June.
According to Premier Horgan, it is so when the crisis passes businesses will be in a better position to start up right away.
BC Hydro is also giving the option to large industrial customers to have 50% of their payments deferred for the next three months.
“That deferment will allow those businesses to continue operating and to continue to have people working in mines, and other industrial projects across British Columbia, should they be abiding by the Public Health Officer’s rules,” he said.
Horgan also announced effective April 1 the BC Utilities Commission has approved a 1% reduction for all customers.
According to Minister of Energy, Mines and Petroleum Resources Bruce Ralston the three-month credit will equal $477 in savings.
Ralston added the credit does not have to be repaid.
He said customers will have until June 30 to apply for relief.
“Customers who have lost their jobs or unable to work due to COVID shouldn’t have to choose between paying their rent or mortgage or paying their hydro bill,” he said.
According to Ralston, the application for the 1% decrease was submitted in August and is the first decrease in hydro rates in decades.
Ralston announced some key items in the COVID-19 Action Plan that will make a difference for businesses:
A one-time tax-free payment of $1000 for people who can’t work due to the pandemic
Delay in tax filing
School rates are also being cut in half for commercial properties and classes
Providing funding for the hard-hit tourism and culture sector
Premier John Horgan is encouraging residents to only apply to the programs if they are needed so, there are more resources available for those who desperately need them.