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HomeCanadaB.C. Hydro launches new optional time-of-day pricing

B.C. Hydro launches new optional time-of-day pricing

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BC Hydro says customers can opt into its new hourly rates to save money by using electricity during off-peak hours.

The new optional rates were approved by the BC Public Service Commission last December.

“It gives residential customers the option to pay lower rates if they shift their electricity use to periods when electricity demand is lower and there is more system capacity,” BC Hydro said in a news release about the launch this week. week.

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“With costs rising across the country due to global inflation and high interest rates, it is more important than ever for us to keep the cost of electricity low and help British Columbians save on their electricity bills. energy,” said British Columbia Energy Minister Josie Osborne.

“That’s why we’re working with BC Hydro to provide households with a new optional time-of-day rate, providing a way to save money on their energy bills while supporting the switch to clean energy.”

Hourly rate customers will get a five-cent discount for each kilowatt hour of electricity used between 11 pm and 7 am, and will also face a five-cent surcharge for electricity use between 4 and 9 pm, when the demand is greater. . Regular rates would apply for use at any other time of day.

The provincial Crown Corporation recognizes that the optional fare system is not for everyone, so the change is “completely optional and customers can choose to participate or not without penalty.”

Who could benefit? Consider the owner of an electric vehicle who chooses to charge his vehicle into the wee hours rather than after work, or a shift worker who may do laundry and other tasks at unconventional hours.

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“We engaged with more than 35,000 customers and stakeholders, and the message was clear: many would like more choice, a choice to save money and reduce their impact on climate change by using more clean electricity smartly.” said the president of BC Hydro. and CEO Chris O’Riley. “That’s exactly what this… was designed to help do.”

Hydro predicts that an electric vehicle owner could save up to $125 a year by signing up and charging overnight, while someone who switches to doing laundry at night could save up to $25 a year.

Go to bchidro.com to use the new rate estimator tool to see if you can save money, and choose the option by logging in to bchidro.com/myhidro.

jruttle@postmedia.com

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