YOUR PERSPECTIVE: Powering British Columbia

Everyone is feeling the pressure of global inflation and British Columbians are looking for practical ways to save on everyday costs. We know that right now, every dollar counts. That’s why our government announced last week that BC Hydro is launching Power Smart 2.0, making it easier for families and businesses to reduce their energy use while putting money back in people’s pockets through incentives and rebates.

This historic $1 billion investment makes up the largest conservation investment in BC Hydro history and is grounded in a simple idea: the most affordable energy is the energy you don’t have to use.

Power Smart 2.0 is making saving on energy simple – British Columbians can see instant savings at the cash register with rebates of up to $200 at stores across B.C. This fall, folks can receive a free smart thermostat, which will automate savings so you can spend less time balancing costs and temperature and more time enjoying improved comfort. A new mobile app is also launching this fall, which will make it easier for customers to track energy usage, access programs, and manage their accounts.

Customers in electrically heated homes can offset from 33% to nearly 50% of their annual BC Hydro bill by taking advantage of all available programs and offers. Income qualified households receive enhanced support and earn up to $325 annually from making energy efficient choices. Additional bill savings can be found through new rewards that give residential customers the ability to receive up to $200 a year.

Lowering costs and improving energy efficiency will also deliver strong benefits for businesses. Across our province, commercial and industrial customers will be able to access expanded funding, which in some cases will cover 100% of project costs. Investing in new technologies will help businesses reduce costs while staying competitive, which will drive $1.4 billion in GDP economic growth and support 3,500 jobs annually.

Our Power Smart 2.0 project comes out of a long 35-year legacy of energy efficiency innovation in British Columbia. Here in this province, we have an energy advantage that spans low-cost electricity, clean LNG, and reliable hydroelectric power.

Just last week, Premier Eby announced that the Site C hydroelectric dam in Northeastern B.C. has been named after former Premier John Horgan. In collaboration with Local First Nations, the reservoir behind the dam has been named Nááchę mege which means Dreamer Lake. This dam represents B.C.’s current hydroelectric power and the potential our province must lead Canada in efficient energy production.

Power Smart 2.0 means British Columbians can expect affordable energy now and into the future. By making it easier for customers to use less energy, our government is helping customers rest easily, because they know cost savings are coming their way. When we work together to maximize B.C.’s energy advantage, we can save money and build prosperity for businesses and families across our province.