From ICBC and ferry fares to electricity and the minimum wage, here’s a rundown of some of the changes coming into effect in 2021.
Minimum wage
As of June 2021, minimum-wage workers in B.C. will receive $15.20 an hour. B.C.’s minimum wage has gone up every June 1 since 2018.
Ferry, transit fares capped
B.C.’s Transportation Ministry announced in December that B.C. Ferries will receive more than $300 million in Safe Restart money, some of which will limit average annual fare increases to 2.3 per cent until March 31, 2024.
That’s in line with the rate caps set by the agency’s regulator before the COVID-19 outbreak. A similar deal was reached to cap B.C. Transit average annual fare increases at 2.3 per cent until March 31, 2024.
ICBC rates going down?
ICBC has applied for a significant reduction in basic insurance rates in conjunction with the planned rollout of its new enhanced care coverage plan in the spring. If approved, it would be the largest decrease in more than 40 years and could save drivers an average of 20 per cent or $400 on their full basic and optional vehicle insurance, the government says.
Electricity rates going up?
B.C. Hydro has applied to increase its rates by 1.16 per cent on April 1.
The Crown corporation cut its rates by 1.62 per cent in 2020, including a retroactive cut that will result in customers receiving one-time bill credit in the new year. Residential customers will get $4 back on average, while commercial customers’ credits will range from $10 to $600, depending on the size of the business.
Fortis B.C. rates increasing
On Dec. 8, the British Columbia Utilities Commission approved a Fortis B.C. rate increase of 6.59 per cent effective Jan. 1 — pending final adjustments.
Carbon tax increase imminent
In April 2020, a scheduled increase to $45 per tonne of carbon dioxide or equivalent was paused as part of the COVID-19 Action Plan. The B.C. government decided the tax rate would remain at $40 per tonne until April 2021. Come April, it will go up by $5 per tonne. A further increase — to $50 per tonne — is planned for 2022.
New charging fee
As of Jan. 4, Saanich and Victoria will begin imposing a $1 an hour fee at public charging stations for electric vehicles.
— With a file from Vancouver Is Awesome
