The Province has renewed its service contract with BC Ferries for the next four-year term, Performance Term 5 (PT5), which covers April 1, 2020 to March 31, 2024.
The Coastal Ferry Services Contract is an agreement between the Province and BC Ferry Services Inc. to deliver ferry service and is renewed at the end of each four-year performance term. Government funding is provided to BC Ferries through the contract that defines routes and minimum service levels.
Compared to the PT4 contract, the renewed contract reflects increased annual funding from the Province to BC Ferries of $32.5 million to support fare affordability and another $5.8 million annually to support the increase of 2,700 round trips on 10 minor and northern routes announced earlier this year.
In March 2019, the BC Ferries commissioner released the preliminary price cap decision for PT5. He recommended BC Ferries be allowed to raise fares by an average of 2.3% for each of the four years of PT5 to keep pace with the rate of inflation. The commissioner has until the end of September 2019 to make a final decision on the average allowable fare increase for PT5.
To read the contract, visit: https://www2.gov.bc.ca/gov/content/transportation/passenger-travel/water-travel/coastal-ferry-services-contract