B.C. Ferries Commissioner Gord Macatee confirmed today that fare increases for the ferry services will be capped at 1.9 per cent annually from 2016 until 2020.
The decision came following an independent review by Macatee, which looked at traffic increases, fuel prices, and debt services for the multi-billion dollar transportation corporation.
While B.C. Ferries has announced a $30-million increase in net earnings, the report outlines the reasons for the fare increases.
“Although many routes saw traffic growth this summer, it’s too early to assume sustained growth through 2019-20,” says the release.
The first fare increase will be in effect April 2016. More information about the increase can be found online.