BC Hydro Launches Optional Time-of-Day Rate

BC Hydro has launched an optional time-of-day rate to provide customers with more choice in how they pay for electricity use.

The new optional rate was approved by the BC Utilities Commission in December, offering  residential customers 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. Customers who sign up can save money by shifting their energy-intensive activities to off-peak hours.

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

Participating customers will receive a 5-cent discount for each kilowatt hour of electricity consumed during overnight periods (11 p.m. to 7 a.m.), and a 5-cent surcharge for each kilowatt hour of electricity consumed during the on-peak period (4 to 9 p.m.). The rates for the remaining hours of the day will stay the same. 

BC Hydro points out the option may not be right for everyone, which is why the choice is completely optional and customers can opt in or out without penalty.

Chris O’Riley, President and CEO of BC Hydro says they’ve heard from over 35,000 customers and stakeholders, 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.”

The amount of potential savings for customers depends on their individual circumstances. The more they shift the more they can save. For example, customers with an electric vehicle could save up to $125 per year by enrolling in this rate and charging their electric vehicle overnight. If a customer typically does two loads of laundry per week at around 7 p.m., by starting those two loads between 9 and 11 p.m. this customer could save up to $25 per year.

Customers can sign up using their online BC Hydro account and use a new rate estimator tool, at bchydro.com/myhydro