If you're able to shift electricity use to non-peak hours, our optional time-of-day pricing could help you save.
Rate estimator tool helps you decide if an optional rate is for you
We've rolled out new residential pricing options to give you more choice.
Our customers are discovering that with changing habits and new electrical devices in the home – including electrical vehicle chargers and heat pumps – it might make sense to switch to one or more of our optional electricity rates. So we've also expanded our online rate estimator that uses your real electricity data to offer suggestions, complete with estimated costs, for switching your current rate plan.
The fact of the matter is that every home is a bit different. Some rely on electric baseboards, some on a combination of baseboards and gas heat, and others on an electric air-source heat pump that also provides cooling in the summer. And more and more B.C. households have added, or are looking to add, electric vehicle charging at their homes.
The rate estimator factors in variations of those elements to help you decide whether it's time to opt into one of our optional rates. You can change your rate option from your online account.
What you need to know about the new optional rates
With the tiered rate customers have been using for years, you're charged a lower (Tier 1) price for electricity up to a certain threshold in each billing period, and a higher (Tier 2) price for all electricity use afterwards.
Our optional flat rate is geared towards those who use more than typical amounts of electricity, including those in larger homes or who might use electricity to heat a hot tub or a pool. Under the flat rate, you're charged a fixed price per kilowatt-hour (kWh) of electricity used that doesn't change, no matter how much or little energy you use.
Our optional time-of-day pricing, which is used in combination with the flat or the tiered rate, applies a discount of 5 cents per kWh to all electricity that was used overnight (11 p.m. to 7 a.m.) and a surcharge of 5 cents per kWh to all electricity that was used during the on-peak period (4 to 9 p.m.). No discount or surcharge is applied during the other hours of the day.
With no change to their current rate, a B.C. family using our rate estimator found that if they added an EV charger, their annual electricity charges would increase from their current $964 to an estimated $1,318. But if they added time-of-day pricing to their tiered rate – and shifted EV charging and some appliance use to overnight – they might save $176 a year.
What the rate estimator discovered for one B.C. household
We had one B.C. family, in a 1,300-square-foot two-bedroom Vancouver home heated by electric baseboards, try out the rate estimator. Eager to buy an electric vehicle but unsure when they'd be able to afford to take the plunge, they tested two different scenarios to see what their best rate options might be.
In the first option, they would delay their EV purchase for at least another year. The estimator tool showed their current annual electricity charges (at the default tiered rate) added up to $964 per year. It then showed estimated costs under three other rate options, depending on whether they could commit to shifting some of their appliance use overnight.
They discovered that if they opted for time-of-day pricing in combination with the tiered rate – and by selecting that they'd start running some appliances overnight – they could save an estimated $37 a year. The more they manage to shift appliance use (primarily their washer, dryer, and dishwasher) to overnight, the more they could save.
They then got an estimate of what might happen if they bought an electric car – they're particularly keen on the Kia EV6 and plan to use the our rebates to cut the cost of the purchase and installation of a Level 2 EV charger at their home.
Without any change to their current tiered rate, their annual electricity costs would increase to an estimated $1,318 per year. But if they combined that tiered rate with time-of-day pricing, and charged their Kia and used some appliances overnight, they'd spend an estimated $1,142 per year, for a potential savings of $176 a year.