@bcferries.com
BRITISH COLUMBIA – In an effort to aid those relying on BC’s Coastal ferry service, the BC Government is providing $500 million in new funding for BC Ferries.
Through a recent submission to the BC Ferries commissioner and the impacts of global inflation over the past 18 months, it was clear BC Ferries users could face fare increases of 10.4 per cent a year for the four-year period of 2024 to 2028. With this $500-million investment, the BC government’s goal is to keep annual average fare increases below 3 per cent a year. Final fare increases will be determined by the BC Ferries commissioner.
“This significant funding from the Province supports necessary service enhancements and infrastructure investments while keeping fares affordable for the travelling public and our commercial customers. We are thankful we have a government partner who understands the complexity of running one of the largest ferry systems in the world and is as committed as we are to providing safe and reliable service to the people and communities of BC’s west coast.” commented Jill Sharland, BC Ferries interim president.
The increase in core costs like fuel, along with higher inflation are factors in driving up overall costs for BC Ferries. The $500 million will also support greenhouse-gas-emissions reduction through electrification of vessels and other initiatives to green the fleet and operations. Businesses will benefit from affordable ferry rates as many small businesses rely on BC Ferries for the movement of goods through freight transport.
The BC Ferries commissioner is in the process of determining, by March 31, 2023, the preliminary annual fare increases (price cap) for the next four-year period starting April 1, 2024. The final annual fare increases for the next performance term will be published by Sept. 30, 2023.
In spring 2019, the Province added 2,700 round trips, reduced fares by 15 per cent on smaller and northern routes, froze fares on the major routes, and brought back free passenger travel for seniors, Monday through Thursday. In 2020, $308 million in Safe Restart funding was provided to BC Ferries to cover COVID-19 related operational losses, protect service and limit fare increases.
