BC Ferries is looking to save travellers money by reducing fares to keep tickets affordable, predictable and stable.
The proposal was submitted to the Ferries Commissioner after the provincial carbon tax was eliminated.
BC Ferries Chief Financial Officer (CFO) Brian Anderson says the savings will certainly have a positive impact if the proposal is accepted.
“If the commissioner approves our proposal, it’ll allow us to use the carbon tax savings in a way that helps maintain consistent fares for customers,” he says. “By spreading the savings over a longer period of time, it enables us to keep fares steadier and give people more certainty when planning their travel.”
According to BC Ferries, they use fuel deferral accounts, approved and overseen by the Commissioner, to protect fluctuating fuel prices regarding operating costs and try to keep prices stable for clients.
They say if the prices on fuel drop, then there shouldn’t be any need to dip into reserves.
“If prices drop, the account holds the savings until prices rise, or they’re returned to customers,” they said in a media release. “If prices rise, it covers the shortfall to prevent sudden spikes.
“Over time, this smooths out price changes, so customers aren’t exposed to sudden swings.”
They say the current set price for fuel was established in 2023, but with the tax removed on Apr. 1, fuel is now below the set price.
BC Ferries hasn’t set a date on when fares will be reduced or when they plan on the Commissioner will make their determination.
