Many British Columbians will be wondering why BC Hydro is rolling out fancy new smart meters at a time when electricity rates are projected to rise 50% over the next five years.
The meters don't come cheap - $930 million- yet Hydro says they are necessary to modernize B.C's electrical system and will even pay for themselves with operational efficiencies.
In the future, these meters could even be used to help customers figure out what their power consumption is when rates are high and change their habits to save money.
Unfortunately, time-of-use rates - in which power used at non-peak times is billed at a lower level - are a few years away and require regulatory approval.
Too bad. British Columbians could sure use a break on future energy bills and time-of-use rates would have been a terrific opportunity for showcasing the benefits of these new meters.
What do you think?Would you take advantage of time-of-use rates to change how and when you use electricity to reduce your power bill? Vote in our online poll.
- The Tri-City News