B.C. Reg. 23/2024, deposited February 15, 2024, under the CLEAN ENERGY ACT [section 35]. Order in Council 60/2024, approved and ordered February 15, 2024.

On the recommendation of the undersigned, the Lieutenant Governor, by and with the advice and consent of the Executive Council, orders that British Columbia’s Energy Objectives Regulation, B.C. Reg. 234/2012, is amended as set out in the attached Schedule.

— J. OSBORNE, Minister of Energy, Mines and Low Carbon Innovation; N. CULLEN, Presiding Member of the Executive Council.

Schedule

1 Section 1 of British Columbia’s Energy Objectives Regulation, B.C. Reg. 234/2012, is repealed and the following substituted:

Definitions

1 In this regulation:

"Act" means the Clean Energy Act;

"actual inflation", in relation to a calculation year, means the sum of each annual percentage change in the CPI from 2017 to that calculation year;

"calculation year", in relation to a commission decision, means the last calendar year prior to the year in which the commission makes that commission decision;

"commission decision" means any decision to be made by the commission that involves consideration of British Columbia’s energy objectives;

"CPI" means the annual Consumer Price Index for British Columbia, All-items, as published by Statistics Canada under the authority of the Statistics Act (Canada);

"cumulative inflation" means the sum of actual inflation and projected annual inflation;

"projected annual inflation", in relation to a calculation year, means the commission’s estimate of the sum of each annual percentage change in the CPI from that calculation year to 2030.

2 Section 2 is repealed and the following substituted:

Modification of British Columbia’s energy objective respecting electricity generation

2 The objective set out in section 2 (c) of the Act is modified as follows:

(c) by 2030, to ensure that 100% of the electricity generated in British Columbia and supplied to the integrated grid is generated from clean or renewable resources, and to ensure that the infrastructure necessary to transmit that electricity is built.

3 The following sections are added:

Additions to British Columbia’s energy objectives

3 The objectives set out in section 2 of the Act are modified by adding the following paragraphs:

(f.1) to ensure that changes to the authority’s rates

(i) are reasonably predictable, and

(ii) are reasonably consistent from year to year;

(f.2) to ensure that increases to the authority’s rates do not exceed cumulative inflation;

(g.1) to ensure that the authority holds rights to a sufficient amount of clean or renewable electricity to enable British Columbia to meet the objective set out in paragraph (g).

Priority amongst British Columbia’s energy objectives

4 The energy objectives set out in section 2 (f.2) and (g) of the Act have priority over the other energy objectives set out in that section.

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