By Don Urquhart, Times Chronicle
BC’s new Premier David Eby kicked off his first days in office with two new cost-of-living credits for BC residents and businesses to help offset the high cost of living.
This includes a one-time $100 cost-of-living credit for BC Hydro customers, equivalent to an average month of electricity charges for most single-family homeowners in a detached home, or more than two months of electricity for a family living in an apartment.
Commercial ratepayers, including small and medium businesses, such as restaurants and tourism operators, will receive a one-time bill credit for an average of $500.The precise amount is based on their prior year of electricity consumption.
This credit will also be available to customers who receive their electricity service indirectly from BC Hydro through FortisBC or a municipal utility.
All customers will receive the credit on their electricity bills on behalf of the province.
The second separate credit based on income is the BC Affordability Credit aimed at helping low- and middle-income earners with rising costs and is based on income.
The scheme will provide up to an additional $164 per adult, and $41 per child, or up to $410 for a family with two children earning $43,051, with a sliding scale of credits for families earning as much as $150,051.
Individuals making an income of up to $36,901 will receive the maximum BC Affordability Credit with the credit fully phasing out at an income of $79,376.
Families with up to four children with a household income of up to $43,051 will get the maximum amount, with the credit fully phasing out by $150,051.
This additional support means a family of four can receive up to an additional $410 in early January 2023 to help offset some of the added costs people are facing.
“Look for B.C.’s new Affordability Credit in your bank account in January 2023,” Eby said.
“We know it won’t cover all the bills, but we hope the little bit extra helps folks out this winter.”
