BC Ferries will be allowed to hike fares by no more than 2.3 per cent a year for four years beginning next April.
The final decision price cap was revealed by the Office of the BC Ferries Commissioner on Monday.
“This final price cap decision confirms the preliminary decision announced on April 1,” said Commissioner Sheldon Stoilen.
“We believe these increases are in the public interest – affordable to ferry users and taxpayers, while sufficient to allow BC Ferries to meet their financial targets, barring any extraordinary situation.”
The decision does not mean automatic hikes, only that BC Ferries can raise fares by that amount each year.
The Commissioner is also calling on Ferries to establish greenhouse gas-reduction target, and it suggests the corporation pursue the electrification of the new Island Class ferries being introduced next year “as soon as the infrastructure and technology are available.”
Four Island Class ferries will be added to the BC Ferries fleet in 2019 and 2020 and will carry 47 vehicles and up to 300 passengers and crew.
“The Island Class, will be battery hybrid-electric vessels that utilize some of the most advanced clean marine technology in the world. Once in service, we believe these vessels will be among the most efficient and quietest electric-hybrid ferries world-wide,” said BC Ferries.