As our society strives towards a greener future, the way we use electricity is evolving at a rapid pace. BC Hydro, one of British Columbia’s largest electricity providers, is exploring new residential eletricity rate options to support these changes and provide customers with greater control over their energy usage.
If you have recently adopted clean energy by owning an electric vehicle (EV), BC Hydro is examining rates that can give you more choices and opportunities to save when you charge at home. By charging your EV during off-peak hours, you can take advantage of the proposed rate and potentially save money on your electricity bill.
To develop these new rate options, BC Hydro has sought input from over 35,000 customers and stakeholders through the engagement process. On February 27, 2023, they submitted a proposal for a new optional residential rate to the B.C. Utilities Commission (BCUC). The proposed rate is designed to keep electricity costs affordable and fair while also giving customers more options for how they are charged for electricity.
Under the proposed rate, customers would still be billed for their total electricity use in a billing period at the existing two-tier residential rate. With the new changes, they can receive a credit of 5 cents per kilowatt-hour (kWh) for electricity used overnight (11 p.m. to 7 a.m.), but an additional charge of 5 cents per kWh for electricity used during peak hours (4 to 9 p.m.). No credit or additional charge would be applied during off-peak hours (7 a.m. to 4 p.m. and 9 to 11 p.m.).
This new proposed rate could help customers save on electricity costs if they shift some of their usage to off-peak hours. This would be particularly beneficial to those who charge their EVs overnight at home. Customers can also save money by shifting other household usage, such as laundry and dishwashing, to off-peak hours.
Let’s compare this new rate to the current residential electricity rates offered by BC Hydro:
|Basic ChargeA small, daily amount that partially recovers fixed customer-related costs, including customer service channels, metering, billing, payment processing, collections, and distribution system costs that are customer-related (electrical lines and transformers).||$0.2090 per day|
|Energy Charge||Step 1$0.0950 per kWh for the first 1,350 kWh in an average two month billing period (22.1918 kWh per day).Step 2$0.1408 per kWh over the 1,350 kWh Step 1 threshold|
|Minimum Charge||$0.2090 per day|
The BC government also provides incentives for electric vehicle (EV) owners, such as the CleanBC Go Electric EV Charger Rebate program. This program offers rebates to eligible EV owners who purchase and install a Level 2 charger at their home or workplace. The rebate can cover up to 50% of the purchase and installation costs, to a maximum of $350. For a limited time BC Hydro is offering additional funding of up to $250. Moreover, our product, Pion Power Flex-Ac, is listed on the eligible product list for this program. So if you’re considering purchasing an EV charger, check out the CleanBC Go Electric program to learn more.
BC Hydro’s got a cool new way for you to save on your electricity bill! If you’re an EV owner, they’re proposing rates that’ll let you charge during off-peak hours and save some dough. Plus, with the CleanBC Go Electric program, you can get up to $350 off an eligible charger, with an extra $250 for a limited time. Charge your EV and your wallet at the same time!