The province has extended the date for ICBC to file its revenue requirements by two weeks.
Normally, the Corporation submits its application for rate increases to the British Columbia Utilities Commission on August 31st.
Now, we won’t find out what kind of increase in rates we could be facing until mid September.
The Minister Responsible for ICBC, David Eby says the additional time will give the new government an opportunity to assess ICBC’s financial challenges with the goal of keeping rates at the lowest possible level.
He also expects to announce short-term measures that will help solve the concerns and get the organization back on firmer financial footing.
Once ICBC submits its rate application, BCUC will consider and respond to the filing, with the interim rate effective November 1st, while the Commission reviews the full application.
