Our time-of-use rate option is one more way we are continuing our promise to provide members with affordable rates as well as options that fit their individual energy needs. The concept behind time-of-use rates is fairly simple: you pay different rates for electricity based on the time of day and season rather than a single flat rate. The amount of electricity you use is just as important as when you use it.
Time-of-use rates can help members save money if they are able to reduce energy usage during peak times, when electricity prices are highest, or shift energy usage to off-peak periods, when electricity prices are lowest.
Rate periods and seasons
Pricing for electricity in a time-of-use rate option is different depending on the time of day. Rates are lower during evenings and overnight because demand is lower at those times. Time-of-use rates also differ seasonally, because electricity demand differs between summer months and the rest of the year.
The rates and summer/non-summer periods are defined below.
Click chart to enlarge.
Are time-of-use rates right for you?
To get the most out of time-of-use rates, you must reduce electricity usage during peak periods or you must shift electricity usage from peak to normal/economy periods. During the summer, limiting usage from noon to 8 p.m. will help you significantly save. During non-summer months, limiting usage between 5–8 a.m. and 4–7 p.m. will show the biggest savings.
To get an accurate estimate of your savings with time-of-use rates, we have developed a helpful calculator, which can take past energy usage and apply rate period pricing. The calculator will allow you to estimate shifts in electricity usage so you can see how much your bill could be affected by a shift or reduction in usage during peak periods.
The calculator is available to anyone as long as you have 12 months' worth of hourly usage data on your account. If you do not have 12 months' worth of hourly usage data, you will be able to use the calculator's estimate feature at a later date.
To use the calculator, follow the directions below:
- Log in to SmartHub.
- Navigate to My Usage.
- Click on Usage Management.
- Click on the "Time-of-Use Calculator" tab.
- Click on the green button to use the calculator.
Tips for shifting energy usage
The amount of electricity you use each month is calculated by multiplying appliance/system usage (watts) by the length of time you use them (hours). For example, a washing machine may use 1 kilowatt for an hour during the month, which is expressed as 1 kWh.
Shifting usage of the biggest energy users in your home will give you the most amount of savings every month. Check out some helpful tips below to help you save with time-of-use rates:
Heating and cooling
- Consider installing a smart thermostat and setting your system to pre-heat or pre-cool your home during off-peak hours.
- During the summer, set your thermostat to 85 degrees when you're away from home.
- During the cold winter months, set your thermostat between 68 and 70 degrees when you're home and to 65 degrees or lower when you're away.
- Use a fan rather than air conditioning on milder days.
- If you have a pool at your home, use a timer and schedule your pool pump to run overnight during economy periods.
Appliances and other devices
- Turn your dishwasher on before you go to bed rather than right after dinner.
- Use the delay function to run your washer and dryer during economy periods.
- Install a timer on your water heater, setting it to turn on before your morning shower but shut off for the rest of the day.
- If you have an electric vehicle, set the timer to charge during economy periods.
For more information or to enroll in this optional rate,
call us at 1-888-554-4732.