BCUC approves ICBC Basic rate application on interim basis
January 13, 2023
The British Columbia Utilities Commission (BCUC) has approved, on an interim basis, a zero percent rate change to ICBC Basic insurance rates.
ICBC's recent revenue requirements application to the BCUC asks for no overall change to Basic insurance rates for the next two years. This becomes effective on April 1, 2023 and will remain in effect until the BCUC completes its public review of ICBC's application.
There are a number of ways for the public to participate in the review process. Read the Public Notice – Appendix B.
The BCUC has also set the regulatory timetable for the review of ICBC's Basic rate application.
|Regulatory timetable||Date (2023)|
|ICBC notice of application||Monday, January 16|
|Intervener registration deadline||Monday, January 30|
|BCUC Information Request (IR) no. 1 to ICBC ||Thursday, February 9|
|Intervener IR no. 1 to ICBC||Thursday, February 16|
|ICBC responses to BCUC and intervener IR no. 1||Thursday, March 9|
|Workshop (if required)||Wednesday, April 5|
At the end of the regulatory process, the BCUC will reach a final decision on ICBC's basic rate application. The BCUC will determine how any difference between the approved interim rate and permanent rate will be refunded or collected at the time of its final decision.