CBC, CTV, and Global are reporting the same:
Video of the press conference, held at ~12:30 local (UTC−8) Monday by BC Premier David Eby, is available here:
It appears this action represents the activation/enforcement of a 2019 "Interpretation Amendment Act", so it seems the press release from the BC Attorney General may be all the official documentation we'll have to go on for a while. It simply says "Regulation will bring the amendments into effect after Sunday, March 8, 2026." As Winfield, BC's Lake Country Calendar reports it, the 2019 bill "allows the changes to be implemented without any further legislation either way, and the government has opted to stop waiting."
Confusingly, per CBC, "B.C.'s new time zone will be called 'Pacific Time,' according to the province." By contrast, we already have a longstanding practice of using "MST" in our data for yearround UTC−7 in Yukon as well as for border regions such as America/Dawson_Creek and America/Fort_Nelson. So, although there has already been some breakdown in nomenclature from legacy zones like PST8PDT, that is now brought to a more populous province of ~5.7 million. (For what it's worth, CBC News has been recently using "YST" for Yukon time in their online simulcasts to YouTube.)
The press release points to "[r]ecent actions from the U.S. hav[ing] shifted how B.C. approaches decisions that merit alignment, including on time zones", so the difference in nomenclature between this new "Canadian Pacific Time" and "US Pacific Time" — while likely to cause cross-border confusion next winter — is likely an intentional part of "the province's broader plans to move away from interdependence with the U.S." Although the press release correctly points out that "[n]eighbour jurisdictions like Washington, Oregon and California are all in the process of creating or enacting similar legislation", it does not mention that a similar shift to yearround UTC−7 for those states would be dependent on action from either the US Congress or Department of Transportation.