A preliminary decision by the Office of the B.C. Ferries Commissioner would cap annual ferry fare hikes at 2.3 per cent for five years starting in 2020.
The ferries commissioner’s office said a maximum yearly fare increase of 2.3 per cent is based on total operating expenses increasing at, or just above, the rate of inflation.
“With this preliminary decision in hand, we now have an opportunity to discuss price caps, service levels and service fees with the province.”“Our goals for the next four years are ambitious. The $3.9 billion 12-year capital plan is the largest in B.C. Ferries’ history. We are ready to upgrade existing vessels, purchase new vessels, invest in the fleet maintenance unit and upgrade and rebuild terminals,” she said.
Fuel costs are the second-highest cost for the service and are estimated at $108.7 million for fiscal 2019, but Stoilen said they have been effectively managed and could decline due to higher use of liquefied natural gas.
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