Price Caps could be on the way for BC Ferries fares as BC Government puts more money into transportation service

The Northern Adventure at dock in Prince Rupert

500 million dollars in new funding for BC Ferries will pay off for passengers next year,  with the government looking to the ferry transportation provider to cap their fares in the years ahead. 

That as the government noted of a recent submission to the BC Ferries Commissioner that highlighted the prospect of significant fare increases over the next four years.

The Government plan of action came as part of a Sunday information session hosted by Premier David Eby.

“Every day, people use BC Ferries to get to work, and visit family and friends, as well as plan vacations. We know the cost of everything continues to go up due to global inflation, but by acting now, we can prevent double-digit fare increases from hitting people who depend on our ferries.”

The province noted yesterday in their information release that  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% a year for the four-year period of 2024 to 2028. 

With this $500-million investment, the B.C. government’s goal is to keep annual average fare increases below 3% a year. Final fare increases will be determined by the BC Ferries commissioner. 

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.

As they noted the BC Ferry Commissioner is in the process of determining the preliminary annul fare increases for the next four years. That final amount will be announced in September of this year and take effect as of April 1, 2024.

Transportation  and Infrastructure Minister Rob Fleming noted the importance of BC Ferries when it comes to moving travellers and goods around the province.

“Our government recognizes the importance of reliable and affordable ferry service for travel and goods movement. It is vital that people living in B.C.’s coastal communities that depend on ferries — and all British Columbians — are well served and supported by this service.”

You learn more about Sunday's announcement here.

North Coast MLA Jennifer Rice shared some of the same themes as the Premier and Minister Fleming through her social media page on Sunday, noting of the ferry rate plans for her constituents.

More notes on marine related transportation on the North Coast, Haida Gwaii and Central Coast can be reviewed here.

Cross posted from the North Coast Review.