June 28, 2012
New Fuel Price Deferral Mechanism Proposed
On June 21, 2012, British Columbia Ferry Services Inc. (BC Ferries) filed an application with Commissioner Gord Macatee seeking approval for a new fuel price deferral mechanism as required under the recently added section 41.1 of the Coastal Ferry Act. This proposed mechanism involves the use of a single deferral account for multiple route groups and the necessary mechanisms to permit BC Ferries to manage the deferred account balance within defined limits. This bottom up approach to the proposed mechanism is designed to reflect recent amendments to the Act that balance the interest of ferry users and the financial sustainability of the company.
The commissioner is requesting comments from the public on BC Ferries’ application for a new fuel price deferral mechanism.
Comments can be submitted by e-mail to email@example.com or by mail to BC Ferry Commission, RPO Hillside, Box 35119, Victoria BC, V8T 5G2.
Deadline for submissions is July 29, 2012.
Click here for a copy of the application by BC Ferries.
Click here for a copy of the letter to Commissioner Macatee from Executive Vice President and Chief Financial Officer Robert P. Clarke.