BC Hydro offering overnight discount with new rate plan

BC Hydro is hoping to incentivize people to change the way they consume electricity – by offering an overnight discount.

Those who opt-in will get a five-cent discount on each kilowatt hour consumed between 11 p.m. and 7 a.m. But they'll also be charged five cents more during the peak hours of 4 to 9 p.m.

Spokesperson Susie Rieder stresses that these rate changes will only impact people who sign up and that those people can opt-out at any time.

"Not everyone's using electricity the same way or at the same time. We designed this rate so that people could have more choice and a chance for more savings," she said, while acknowledging there are benefits beyond saving money for customers.

"We are doing this to give customers more choice in how they pay for electricity. But of course, there's the added benefit of freeing up more system capacity at peak times, and that ultimately reduces the need to build new infrastructure to support peak demand."

In addition to the reduced overnight rate, Rieder says that shifting consumption to non-peak hours can also lead to some savings.

So how much can someone who signs up save?

That depends, Rieder says.

People who charge electric vehicles could save an estimated $125 per year if they switched to overnight charging. Those who do two loads of laundry per week during peak hours and shift that activity to non-peak hours could save about $25 annually.

Things like the size and type of one's home also factor in, and the plan might not make sense for people who live in smaller spaces like apartments or condos.

"The opportunity for them to save is limited because of their low consumption," Rieder added, also noting that these people might also use communal laundry or shared EV chargers. Further, some stratas have noise bylaws that prohibit things like doing laundry or running dishwashers overnight.

In all, the utility is hoping for about 20,000 people to sign up.

"We don't foresee this ever becoming mandatory," Rieder told CTV News.