Province Invests $500 million into BC Ferries in an Effort to Keep Annual Fare Increases Below 3%

A new $500 million provincial investment will help offset costs for BC Ferries in an effort to keep fare increases down.

BC Ferries had been warning of a 10.4 percent annual fare increase over the next 4 years, owing to rising inflation and fuel costs.

But, with the investment, the province hopes to meet their goal of keeping annual increases below 3 percent for the 2024 to 2028 period.

In addition, the funding will support efforts to reduce the fleet’s emissions through electrification and other green initiatives.

Preliminary fare increases for the period beginning next April will be determined this March, with final rates being published in September.