BC Ferry Commission Sets Price Cap at 3.2% for Next Four Years
VICTORIA, British Columbia, Oct. 03, 2023 (GLOBE NEWSWIRE) -- The British Columbia Ferry Commission today announced its final decision on the price cap for BC Ferries’ next four-year performance term (PT6).
- VICTORIA, British Columbia, Oct. 03, 2023 (GLOBE NEWSWIRE) -- The British Columbia Ferry Commission today announced its final decision on the price cap for BC Ferries’ next four-year performance term (PT6).
- The Commissioner will allow average ferry fares to increase by a maximum of 3.2% annually from April 1, 2024 to March 31, 2028.
- The final price cap is markedly lower than the preliminary 9.2% proposed by the Commission in March 2023, due to additional one-time funding of $500 million from the provincial government.
- In her report, however, Hage warns of the many demands facing the ferry system in the years ahead.