BC Hydro is now offering customers an optional lower rate, but it will only work if users shift their electricity use.
The new optional rate, which was approved by the B.C. Utilities Commission in December, offers residential customers with the option to pay lower rates if they shift their electricity use to periods when demand for electricity is lower and there is more system capacity, BC Hydro said Wednesday (June 5) in a news release.
BC Hydro says customers who sign up for this option can save money by shifting their "energy-intensive activities" to off-peak hours.
Participating customers will receive a five-cent discount for each kilowatt hour of electricity consumed during overnight periods, from 11 p.m. to 7 a.m., and a five-cent surcharge for each kilowatt hour of energy consumed during the on-peak hours, from 4 to 9 p.m.
The rates for the remaining hours of the day will stay the same.
Savings could be up to $125 per year for some customers.
If a customer typically does two loads of laundry per week around 7 p.m., by starting those two loads between 9 and 11 p.m., they could save up to $25 per year. If a customer has an electric vehicle, they could save up to $125 per year by charging overnight instead.
BC Hydro president Chris O'Riley said the way customers are using electricity is changing. Through engagement with customers and stakeholders, "the message was clear that many would like more choices, an option to save money and to reduce their impact on climate change by using more clean electricity in a smart way."