Due to the increasing number of electric vehicles (EVs) on the road, BC Hydro is in the process of applying for a new residential rate design. The release emphasized their intention to introduce rates that offer more flexibility and opportunities for savings when charging your EV at home.
In February, BC Hydro submitted a proposal for a new optional residential rate to the B.C. Utilities Commission (BCUC), a process that typically takes about a year to receive approval.
The proposed new rate is a time-of-day rate designed for residential customers. According to information from BCHydro.com:
“Under this rate structure, you will still be billed for your total electricity usage during a billing period based on the existing two-tier residential rate. However, you will receive a credit of 5 cents per kilowatt-hour (kWh) for electricity used overnight (from 11 p.m. to 7 a.m.). Conversely, an additional charge of 5 cents per kWh will apply to electricity used during the on-peak period (from 4 p.m. to 9 p.m.). There will be no credit or additional charge for usage during the off-peak period (from 7 a.m. to 4 p.m. and from 9 p.m. to 11 p.m.).”
BC Hydro is hoping to incentivize customers to shift their electricity consumption, particularly for activities like EV charging, laundry, and dishes, to off-peak hours, after 9pm. What do you think? They are actively seeking feedback in the form of “letters of comment” and encourage individuals to register for updates on the proceedings. For more information and to stay informed, you can visit their website or access additional resources on the BCUC website. Is it time to consider solar and battery storage? Shift can help with that! Free Quote