Are you a night owl or an early riser?
If so, BC Hydro is introducing a new optional rate structure that could save you money.
The new voluntary time-of-use rates are designed to incentivize some customers to shift their electricity use to off-peak hours when demand for electricity is lower.
Under the rate structure, participating customers will receive a 5-cent discount per kilowatt-hour for electricity used during the night hours of 11 p.m. to 7 a.m., while they will pay a higher rate of 5 cents during the peak hours of 4 p.m. to 9 p.m.
The electricity price remains unchanged for the rest of the day.
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BC Hydro says the potential savings from changing the rate structure will depend on people’s individual lifestyles.
The Crown corporation pointed to electric car owners as potential beneficiaries, saying they could save up to $125 a year by signing up and charging their cars at night. People who do laundry twice a week could save $25 a year if they do it after 9 p.m., the company said.
The new rate structure is not mandatory, requiring customers to Voluntary registration on the BC Hydro website.
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