For Immediate Release
23-007
March 31, 2023

BC FERRIES’ PRESIDENT & CEO ISSUES STATEMENT REGARDING 
BC FERRY COMMISSION PRELIMINARY PRICE CAP

BC Ferries President and CEO Nicolas Jimenez has released the following statement regarding the British Columbia Ferry Commission’s preliminary decision on the price cap for BC Ferries’ next four-year business plan known as Performance Term 6.

“I want to assure our customers, employees and partners that ferry fares will not be going up 9.2 per cent per year for the next four years. What the Commission has signalled today is not a final outcome but rather one step in a much longer process that is ongoing and won’t culminate until September when a final price cap will be set by that independent office. 

“Key to arriving at that final figure will be factoring in government’s recent $500 million investment that is expected to maintain average rate increases in the three percent range. 

“With respect to the comments made in the Commissioner’s report about our ambitious capital plan, she’s absolutely right. It is ambitious and needs to be ambitious. We’ve done a lot of work to chart a course that invests billions in new ships, terminal upgrades, improved technology and service enhancements critical to improving the overall customer experience. Those that travel with us deserve a service that keeps pace with growing demand and aging assets. The 12 year plan is in its early stages of development, and it’s entirely natural that a program of this size and complexity will evolve and adjust over time. We look forward to working with the Commissioner and government to make sure both partners understand and support our vision for a world class ferry system. 

“Ships and terminals don’t operate without our dedicated crew, both onboard and ashore. Our people are the heart of BC Ferries and the investments we are making to ensure they earn a competitive wage and get the training they need to grow careers with us are critical to ensuring we move our passengers and cargo safely. BC Ferries will never compromise on safety – our team ensures we live up to that promise each and every day.

“In terms of efficiencies, we agree with the Commissioner that we need to look inside the company.  Continuous improvement has always been part of our ethos. I’m pleased to say that there are a number of initiatives already underway and several identified in the next four-year plan. Delivering the services our customers expect in a safe, reliable and affordable manner will remain a focus.

“I look forward to continued collaboration with the Commissioner and government – it’s key to achieving a four-year plan that responds to the needs and expectations of coastal residents while keeping fares affordable.”

BCF’s Performance Term 6 submission can be found here.