SURREY and KELOWNA, BC, Sept, 16, 2014 /CNW/ - FortisBC has received its decision on a rate proposal for our natural gas and electricity customers from the BC Utilities Commission (BCUC).
FortisBC is now reviewing the decision, and in the coming weeks will be working to assess the impact to customers' rates. As a result, any changes to the 2014 interim rates will be announced in the coming weeks.
As part of the decision, the BCUC has approved a framework to set rates that will be in effect through 2019. Under this framework, operation and maintenance costs and base capital expenditures are subject to an incentive formula.
FortisBC is a regulated utility focused on providing safe and reliable energy, including natural gas, electricity, and propane. FortisBC employs more than 2,200 British Columbians and serves approximately 1.1 million customers in more than 135 B.C. communities. FortisBC is indirectly wholly owned by Fortis Inc., the largest investor-owned distribution utility in Canada. FortisBC owns and operates four regulated hydroelectric generating plants, approximately 7,000 kilometres of transmission and distribution power lines and approximately 47,000 kilometres of natural gas transmission and distribution pipelines. FortisBC Inc., FortisBC Energy Inc., FortisBC Energy (Vancouver Island) Inc., and FortisBC Energy (Whistler) Inc. do business as FortisBC. Fortis Inc. shares are listed on the Toronto Stock Exchange and trade under the symbol FTS. Additional information can be accessed at www.fortisinc.com or www.sedar.com.
For further information: MEDIA CONTACT: Neal Pobran, Manager, Corporate Communications, FortisBC, Phone: 250-469-8128, fortisbc.com, twitter.com/fortisBC, youtube.com/fortisBC