BC Utilities Commission approves BC Hydro time-of-use rates, but will it be cheaper for EV owners?

The BC Utilities Commission (BCUC) has approved BC Hydro’s request to implement an optional time-of-use (TOU) electricity plan that will introduce reduced electricity rates during overnight hours, but see increased rate during daytime hours. The new plan was originally billed as a way to support electrification, but electric vehicle (EV) owners will have to look at their own usage to determine whether it makes sense to switch.

According to the new TOU plan, customers who opt-in will receive a 5-cent credit on their electricity usage between the overnight hours of 11:00pm and 7:00am. Conversely, there will be a 5-cent additional charge on electricity usage between the on-peak hours of 4:00pm to 9:00pm. The remaining off-peak hours, 9:00pm to 11:00pm and 7:00am to 4:00pm will see regular rates being applied.

The new plan will come into effect “as soon as practicable after April 1, 2024,” BC Hydro said. Customers will need to sign up to join the new plan, otherwise they will remain on their regular plan.

Period Time of Day Energy Credit or Charge per kWh
Overnight 11:00 p.m. to 7:00 a.m. 5-cent credit
On-Peak 4:00 p.m. to 9:00 p.m. 5-cent additional charge
Off-Peak 9:00 p.m. to 11:00 p.m.
& 7:00 a.m. to 4:00 p.m.
no credit or additional charge

In its application BC Hydro said “participating customers with an electric vehicle could save an average of $44 per year and up to $250 per year” by adopting the TOU plan. However, there are some important things to know and consider before making the switch.

The first is that even though the on-peak period is 5 hours and the overnight period is 8 hours, achieving savings could be tough for some considering the late starting time BC Hydro chose for the overnight period. For example Ontario’s off-peak period starts at 7:00pm, four hours earlier than BC. Additionally BC Hydro’s time periods are the same 7 days a week. This is again different than Ontario which has different hours for weekdays and weekends, which make sense based on the typical work week.

Fortunately BC Hydro does show you your daily usage by the hour in your online account, so if you are considering making the switch, we suggest you look closely at your daily consumption to see whether you will save money on this TOU plan.

Are you buying a Tesla? If you enjoy our content and we helped in your decision, use our referral link to get a three month trial of Full Self-Driving (FSD).
Previous Article

SpaceX to Launch First Direct-To-Cell Starlink Satellites This Weekend

Next Article

Environmental Groups File New Lawsuit Over April’s Starship Launch

You might be interested in …