Kelowna Electrical Utility Restructuring
The City of Kelowna’s electrical utility was transferred to FortisBC with the completed purchase of the City's electrical assets on March 29, 2013. The sale follows the successful completion of public approval processes by both the BC Utilities Commission (BCUC) and the City of Kelowna's alternative approval process.
FortisBC has operated and maintained the City's electrical utility assets for the past decade. The completion of this transaction will see FortisBC directly serve the 15,000 customers formerly in the City's utility.
Taxpayers will benefit from the long-term financial earnings resulting from the reinvestment of the proceeds and customers will receive safe and reliable electricity from an experienced owner and operator. This transaction provides benefits to new customers in the City of Kelowna and existing customers throughout FortisBC’s service territory by mitigating future rate increases and providing continuity of service in the Kelowna area.
Although the sale is complete, the City still needs to seek approval from the Inspector of Municipalities to reinvest the proceeds of sale, which is anticipated to be primarily in FortisBC equity.
Customers formerly served by the City of Kelowna will continue to receive their bills as usual (with FortisBC rates as of March 30, 2013). For more information, visit the Utilities Billing page.
FortisBC expects to transition City of Kelowna customers to its billing system in 2014. For further information about FortisBC or the BCUC decision approving the transaction, please visit fortisbc.com.