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.
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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.
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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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