Take control of your energy costs and save
It’s a new year and we are excited to provide a new rate option for residential accounts. Most of our members pay the standard, residential rate – a flat rate for power, no matter what time of day or month it is used. But if you’re looking to save extra money and take control of your energy use, you might consider switching to our new Time-of-Use (TOU) rate.
How does it work?
A TOU rate is based on the time during which you use electricity. Similar to peak pricing used for air travel, cell phone or hotel stays, time of use electric rates mean that you pay a lower rate during periods of low demand (off-peak) and high rates during periods of high demand (on-peak). This price structure encourages the most efficient use of the electric system while reducing overall costs to you and the cooperative.
When are on-peak times?
The on-peak times vary from summer to winter. Our summer on-peak times are May 1 through October 31 from 3pm to 6pm. Energy used during this time costs 37.50¢ per kwh. Our winter on-peak times run November 1 through April 30 from 6am to 9am. Energy used during this time costs 25.35¢ per kwh. Energy that is used during off-peak hours is 7.8¢ per kwh and best of all, energy that is used during the super off-peak hours of 10pm to 5am costs 3.31¢ per kwh. The off-peak and super off-peak pricing stays the same year round.
On-peak times to not apply during weekends and designated holidays, including New Year’s Day, Memorial Day, Fourth of July, Labor Day, Thanksgiving and Christmas Day.
Could you benefit from this rate?
To get the most out of our TOU rate, you will need to shift your energy use from periods of high energy demand to periods of low energy demand. You could see significant savings by using less electricity during peak times and moving the majority of your energy use to off-peak and super off-peak times. Generally, TOU rates work best for people who are gone during the day and are able to be flexible with when they use the most energy.
To get an idea of just how much you could save based on your previous electric use, please call our customer service representatives at (252)995-5616.