Residential rate design
New optional rate plan available as early as June 2024
On December 12, 2023, the B.C. Utilities Commission (BCUC) approved our application to offer optional time-of-day pricing to our residential customers. The new tiered rate with time-of-day pricing will be available to customers as early as June 2024.
This new rate plan provides you with a choice in how you're charged for electricity use, offers a way to save money on your bill if you can shift usage to lower price periods, and supports electric vehicle (EV) drivers who’ve made the switch to clean electricity.
How time-of-day pricing will work
This new rate plan is optional, and you can decide if it's right for you. Once it's available, we'll provide tools and tips to help you make that decision.
If you choose this plan, you'll still be billed for your total electricity use in a billing period at the existing two-tier residential rate, but you’ll receive discounts and surcharges on your bill depending on when you used electricity.
- You'll get a discount of -5 cents per kilowatt hour (kWh) for electricity used overnight (11 p.m. to 7 a.m.).
- You'll be charged a surcharge of +5 cents per kWh for electricity used during the on-peak period (4 to 9 p.m.).
- No discount or surcharge applies to usage during the off-peak period (7 a.m. to 4 p.m. and 9 to 11 p.m.)
- Time-of-day pricing applies year-round and every day of the week.
Benefits of this rate plan
This plan is designed to help encourage customers to shift their electricity use to periods when demand for electricity is lower and there's more system capacity by offering a lower price for electricity used during these times.
You could achieve bill savings on this rate plan by shifting some of your electricity use to lower price periods, such as charging an electric vehicle (EV) or running your dishwasher.
Background on the rate design process
We engaged with over 35,000 customers and our stakeholders and carefully considered the input throughout the process.
Your input gave us insights into your priorities when it comes to future rate options. Our rate options should:
- Give customers a choice to pick a rate that best meets their needs and lifestyle.
- Incentivize the use of clean electricity rather than fossil fuels.
- Encourage customers to shift some electricity use to overnight to make better use of existing electrical infrastructure.
Learn more about what we must consider when evaluating your rates.
We submitted this rate application to the BCUC on February 27, 2023, and they undertook an open and transparent review process. The application, letters of comment and responses to information requests, as well as the BCUC's final decisions are available on the BCUC's website.
We're continuing to explore other rate options
The way our customers use electricity has changed a lot since we introduced the Residential Conservation Rate in 2008, and we're continuing to explore and engage with customers about potential changes to the current tiered rate and other rate options that support our customer's diverse energy needs. We plan to file an application with the BCUC in June 2024.
To learn more and get involved, see our recent public workshops and feedback.
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