It’s becoming increasingly popular for utilities to offer time-of-use (TOU) plans to their residential customers. In a standard electricity plan, you pay the same rate for your electricity regardless of the time of day. However, with TOU plans, the rate you pay for electricity depends on the time energy is drawn from the grid. So, you’ll pay different amounts based on a schedule developed by your utility company of peak hours, off-peak hours, and in some cases, super off-peak or partial-peak hours. We discuss what this means for you and how it impacts your electric bill.
Continue reading