Fort Langley-Aldergrove MLA Rich Coleman announced this week that the province has overruled the BC Utilities Commission (BCUC) and ordered lesser rate increases for electrical power from BC Hydro.
The province has slashed the expected rate increases by 50 per cent over the next three years.
Coleman said the plan was part of the province's commitment to providing affordable power.
In the 2012/13 year, rates have gone up by 7.1 per cent, an increase recommended by the BCUC. That means about $5.40 per month extra on the bill for the average household.
Next year, rates will rise about 1.44 per cent, but the total rate increase will be 17 per cent over three years.
Keeping the rates low means the province will forgo $75 million in dividends over the three year period.
The decision comes just before hearings were to be held into possible rate increases.