VANCOUVER - BC Hydro and the provincial government have announced a new five-year plan for the Crown corporation that provides incentives for people to switch from fossil fuels to electricity to power their homes, businesses and vehicles.
Under the plan, BC Hydro will spend nearly $190 million to promote fuel switching in homes, buildings, vehicles and industry.
More than $50 million will be spent to attract industries to B.C. to run their businesses and reduce their carbon footprint by using hydroelectricity.
Bruce Ralston, the province's minister of energy, mines and low carbon innovation, says the plan could lead to lower rates for BC Hydro customer rates, potentially by about 1.6 per cent by 2026.
I am proud to announce @BCHydro’s new #ElectrificationPlan w/ @jjhorgan @KellyRichmondBC & President + CEO Chris O’Riley. The plan proposes new programs, & incentives to advance the switch from fossil fuels to clean electricity in homes & buildings, businesses, & vehicles 1/2 pic.twitter.com/Bk1d5chWAJ— Bruce Ralston (@BruceRalston) September 28, 2021
Premier John Horgan says the plan could reduce greenhouse gas emissions by about 930,000 tonnes by 2026.
He says that is equivalent to taking about 200,000 passenger vehicles a year off the road.