BC Hydro has officially launched a new time-of-day rate for those looking to save money.
The optional rate was approved by the BC Utilities commission in December, where it looks to offer customers a chance to pay less if they use electricity during low demand times, while paying more during peak times.
Minister of Energy, Mines, and Low Carbon Innovation Josie Osborne says this comes as costs continue increasing in Canada.
“It’s more important than ever for us keep the cost of electricity down and help British Columbians save on their energy bills,” said Osborne.
Hydro says for those participating, you will get a 5-cent discount for each kilowatt hour of electricity consumed between 11 p.m. and 7 a.m., and a 5-cent surcharge for each hour consumed between 4 p.m. and 9 p.m.
For the rest of the time, rates are the same.
They say customers using the optional rate could save up to $125 a year.
