BCUC approves ICBC Basic rate application on interim basis​​​

January 13, 2023

The British Columbia Utilities Commission (BCUC) has approved, on an interim basis, a zero percent rate change to ICBC Basic insurance rates.

ICBC's recent revenue requirements application to the BCUC asks for no overall change to Basic insurance rates for the next two years. This becomes effective on April 1, 2023 and will remain in effect until the BCUC completes its public review of ICBC's application.

There are a number of ways for the public to participate in the review process. Read the Public Notice – Appendix B​.

The BCUC has also set the regulatory timetable for the review of ICBC's Basic rate application.

Regulatory timetable

Date (2023)

ICBC notice of application

Monday, January 16

Intervener registration deadline

Monday, January 30

BCUC Information Request (IR) no. 1 to ICBC 

Thursday, February 9​

Intervener IR no. 1 to ICBC

Thursday, February 16

ICBC responses to BCUC and intervener IR no. 1

Thursday, March 9

Workshop (if required)

Wednesday, April 5

​​Further process

​To be determined

At the end of the regulatory process, the BCUC will reach a final decision on ICBC's basic rate application. The BCUC will determine how any difference between the approved interim rate and permanent rate will be refunded or collected at the time of its final decision.