FortisBC implementing a Clean Growth Innovation Fund
Focused on supporting innovation that reliably and economically reduces emissions.
SURREY, BC — FortisBC Energy Inc. is implementing a Clean Growth Innovation Fund to help accelerate the reduction of greenhouse gas emissions as part of its strategy to support the transformation to a lower carbon economy.
FortisBC recently received approval from the British Columbia Utilities Commission to implement the fund as part of its 2020-24 multi-year rate plan.
Starting Aug. 1, FortisBC will commit $4.9 million per year until 2024 to the fund, which will help the utility work with government and industry to advance projects expected to help decarbonize its natural gas supply and accelerate climate action.
The fund is financed through an additional $0.40 monthly charge to all of its natural gas customers. It will help explore technologies such as renewable gases, carbon and methane capture, fuel cell and remote power technologies that will advance a lower carbon future while improving the long term viability of BC’s natural gas system.
Selection criteria for innovative projects include the amount of co-funding secured from the applicants, estimated emissions reduced, estimated cost reductions for utility customers and the relevant experience of the project team.