Are you a night owl or an early riser?
If so, BC Hydro is rolling out a new optional rate structure that could save you money.
The new voluntary time-of-day rates are intended as an incentive for some customers to shift their power usage to off-peak hours when there’s a lower demand for electricity.
Under the rate structure, participating customers will get a five-cent discount for every kilowatt hour of electricity used during overnight periods from 11 p.m. to 7 a.m. Those same customers would pay a rate five cents higher during peak hours from 4 p.m. to 9 p.m.
Power rates for the remaining hours of the day remain unchanged.
BC Hydro said potential savings from switching to the fee structure will depend on people’s individual lifestyles.
The Crown corporation pointed to electric vehicle owners as potential beneficiaries, saying they could save up to $125 per year by signing up and charging their cars overnight. Someone who does two loads of laundry a week could save $25 per year by shifting them after 9 p.m., it said.
The new rate structure is not mandatory and requires a customer to voluntarily sign up at BC Hydro’s website.