In short, time-of use-meters can save money by only charging money for the time of electricity that is used, instead of the wattage used. This can be beneficial or negative, depending on the individual's usage patterns.
Time-of-use electric meters can cost more money, but they can be more beneficial if a little planning is undertaken. These meters charge money per hour the electricity is used, instead of per watt. The issue is that during high-energy hours, these meters will charge more, and during low energy times, they will charge less. With meters like this, investing to make the home more energy efficient can be a very good idea.
By making the home more energy efficient, the time electricity is used is decreased, thus resulting in less money spent. For instance, if a homeowner decided to only run the heat in the first 2 hours of the day, then the homeowner would only be charged for those 2 hours. Having an energy-efficient house means the heat would stay inside better. Therefore, the homeowner can save money by only running the electricity during certain hours of the day or during the low periods of the day.